Mr.Abrash

11/29 01:31

Bitcoin Eyes $100K After Surge: Fed Rate Cut Drive

Bitcoin Eyes $100K After Surge: Fed Rate Cut Drives Market Optimism

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Bitcoin rises above $91K, with traders confident of a $100K target by year-end.

BTC’s rally gains momentum amid Fed rate cut speculation and liquidity buildup.

Institutional interest grows as Bitcoin eyes key resistance levels between $92K and $107K.

Bitcoin (BTC) has risen above the $91,000 mark after 12% recovery of the recent fall of about $80,000. However, traders are confident that Bitcoin has a 60% likelihood of reaching $100,000 by the end of the year. The speculation of a possible Federal Reserve rate reduction caused this rush that was provoked by political events in the U.S.

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Treasury Secretary Scott Bessent said there was a very good probability that President Trump would announce his next choice of Federal Reserve chair before Christmas. This news contributed to anticipations of high likelihood of a rate cut in December which stood to 85%. 

As the current Fed Chair Jerome Powell reaches the end of his term in May, the market hopes that a more dovish replacement will be chosen. This has brought hope to risk assets such as Bitcoin

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