What Bitcoin Chart Says About BTC Price After Powell Casts Doubt on December Cut?

💡 DMK Insight

BTC’s dip to $108,784 isn’t just a number—it’s a reaction to Powell’s hawkish stance on interest rates. Traders need to understand that this commentary can lead to increased volatility in the crypto market, especially as investors reassess risk. A hawkish Federal Reserve typically strengthens the dollar, which can put downward pressure on BTC and other cryptocurrencies. Watch for support levels around $105,000; a break below could trigger further selling. Conversely, if BTC can hold above this level, it may attract buyers looking for a bargain. But here’s the flip side: if Powell’s comments lead to a sustained risk-off sentiment, we could see not just BTC but also altcoins and equities feeling the heat. Keep an eye on correlated assets like ETH, which often follow BTC’s lead. The next few days are crucial; monitor the daily close to gauge market sentiment and potential reversals.