The crypto market and Bitcoin price are waiting for the US FOMC meeting and Fed Chairman Jerome Powell’s speech. Meanwhile, as optimism grows following Donald Trump’s presidential victory, investors are taking positions in anticipation of a 25 basis point rate cut to be announced today. Although it is predicted that the developments could quickly push the Bitcoin price to $100,000, some experts warn that the market could be volatile.
US FOMC expectation for Bitcoin price!
Market participants are waiting for the economic outlook to brighten ahead of the US FOMC meeting. In addition, the interest rate cut decision could also affect market sentiment. The US Federal Reserve is expected to make a 0.25 point cut, and according to the CME FedWatch Tool, this probability is evaluated as 99%; it is also estimated that a similar announcement will be made in December. However, despite this positive expectation, some investors are acting cautiously, seeking more clarity about market trends. For example, crypto experts predict that the market could be volatile following Jerome Powell’s speech.
In this context, crypto expert and Bitcoin advocate AlphaBTC displayed cautious optimism while expecting the Fed to make a quarter point cut. Stating that Powell’s statements will shape market sentiment, AlphaBTC stated that a hawkish tone could trigger recession concerns, while a dovish attitude could support the “TrumpRally”. In addition, Powell’s views on newly elected US President Donald Trump will also be closely monitored. Considering Trump’s past criticisms of the central bank, Elon Musk’s D.O.G.E. initiative also increases market optimism and is said to trigger a strong rally in the price of Dogecoin.
Will the BTC price reach $ 100,000?
Although the market expects short-term volatility after the FOMC meeting and Fed Chair Powell’s speech, many crypto experts are optimistic about a rapid recovery in the BTC price. Analysts share their bullish predictions, stating that they expect clear crypto regulation under Trump’s presidency. At the time of writing, the Bitcoin price was at $74,828, up 1.5% after reaching its ATH level of $76,460.15 in the last 24 hours. BTC Futures Open Interest has increased by nearly 4% since yesterday, indicating an optimistic atmosphere in the market.
In addition, the expectation of a Bitcoin Strategic Reserve in the US is creating optimism in the market. Wyoming Senator Cynthia Lummis reiterated her stance of making BTC a strategic reserve, while Trump promised this during his presidential campaign, so bullish expectations are increasing. Meanwhile, a recent report from Matrixport suggests that BTC could rally towards $100,000. The report suggests that the possible departure of US SEC Chairman Gary Gensler and the expectation of a Bitcoin US Strategic Reserve could pave the way for the crypto to reach $100,000 soon.
The US FOMC is likely to create some volatility in the market and suppress the Bitcoin price rally. Apart from this, recent developments have raised concerns in the market as many investors have turned their attention to altcoins like Ethereum. This increasing interest in altcoins is affecting the sentiment of some traders.
Bitcoin sell-off expectation
In addition, CryptoQuant Founder and CEO Ki Young Ju predicted in a recent X post that there could be a BTC sell-off in the coming days. Ki Young Ju stated that new investors may see this rally as an opportunity for profit taking, which could prevent a strong rally in the crypto price. Ki Young Ju stated the following:
New investors usually hold BTC in bear markets and suffer losses. After about two years, when the pain subsides, BTC changes hands. That time is now. It could go up another 30-40% from here, but not like the 368% increase we saw from $16,000. I think it’s time to sell gradually instead of buying with everything.
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