Traders are closely monitoring developments in the financial market regarding the potential reduction of interest rates by the Federal Reserve (Fed) in the United States. Currently, Bitcoin is trading around $112,200.
Current Situation in the Bitcoin Market
At the time of writing, Bitcoin is trading near $112,200, firmly supported above the $107,300 level. The upper boundary of the triangle sits just below $117,200, which has acted as a resistance level in recent weeks. A clean breakout would open the door to $123,700, with potential targets of $133,800 and even $150,000 in the long term.
Impact of Trump's Statements on the Market
President Donald Trump has called for the Fed to cut rates by a full percentage point at its next meeting, criticizing Jerome Powell for being too slow to respond to rising unemployment and weakening job growth. While markets still expect a smaller 25-basis-point cut, Trump's demand for multiple cuts adds uncertainty to the policy outlook.
Bitcoin's Prospects Amid Macro Factors
The uncertainty in economic policy could become a tailwind for Bitcoin. Investors are increasingly positioning themselves for the possibility of looser monetary conditions, while corporate activity supports the bullish case. For instance, Tokyo-based Metaplanet plans to allocate $1.4 billion from a recent capital raise into Bitcoin, following a strategy reminiscent of MicroStrategy’s accumulation approach.
For now, the triangle formation remains the dominant chart signal. A decisive move above resistance could lead to new record highs, while a failure to break through may keep Bitcoin consolidating in the short term.
