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

Why It Matters

A breach of the 200‑day SMA could trigger a broader pullback toward $100,000, dampening crypto market sentiment and influencing investor allocations, while the macro backdrop of a firming dollar and rising yields may further suppress risk‑on assets.

Summary

Bitcoin is trading around $111,000, staying above the 200‑day simple moving average but still below the Ichimoku cloud, signaling short‑term bearish pressure after Fed Chair Jerome Powell downplayed a December rate cut. The dollar index’s bullish 50‑/100‑day SMA crossover and 10‑year Treasury yields climbing above 4% are reinforcing a stronger USD, which typically weighs on risk assets like crypto. Deribit options now carry a 4‑5% front‑end volatility premium, reflecting heightened downside fears. Analysts say a decisive break above the cloud near $116,000 is needed to restore bullish confidence and avoid a slide toward the $100,000 psychological level.