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

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email What Bitcoin Chart Says About BTC Price After Powell Casts Doubt on December Cut? BTC is down but not out following Powell's hakwish commentary on rates. By Omkar Godbole , AI Boost Oct 29, 2025, 7:49 p.m. Bulls and bears (Midjourney/Modified by CoinDesk) What to know : BTC is down but not out, with prices still trading above the 200-day average. Still, trading below cloud indicator and strengthening DXY suggest caution to bulls. This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin BTC $ 113,421.04 is down but not out following Federal Reserve Chairman Jerome Powell's latest hawkish remarks, which challenged expectations around a December rate cut. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . That's the message from the price chart, which shows that although BTC is facing selling pressure likely in response to Powell downplaying additional easing in December, prices still remain above the critical 200-day simple moving average (SMA) near $109,250. As of writing, BTC changed hands at $111,000, bouncing off the key average. Holding above the 200-day simple moving average (SMA), a long-term barometer of the market trend, is encouraging for the bulls, but is it enough? The likely answer is no. That's because prices remain well below the Ichimoku cloud, a widely used technical indicator that helps gauge short-term market trends. Traders generally consider trading below the cloud as bearish in the short term. BTC's daily chart. (TradingView) The longer bitcoin remains below the cloud, the greater the risk of a breakdown below the 200-day SMA, which would open the door for a drop below the psychologically important $100,000 level. This is precisely how things played out in February, leading to a more pronounced decline in the following weeks, when prices slid to $75,000. This downside risk is reinforced by two factors: the bullish crossover of the dollar index's 50- and 100-day SMAs, which hints at continued USD strength ahead and may lead to a bullish double-bottom breakout, marking the end of the broader downtrend since January. Meanwhile, the 10-year Treasury yield has rebounded above 4%, confirming the exhaustion of the downtrend, as signaled by consecutive long-wicked weekly candles. Hardening of yields at the long-end of the curve typically strengthens the dollar and weighs on risk assets. Dollar index and 10-year Treasury yield charts. (TradingView) Note that post-Fed, BTC puts listed on Deribit are once again trading at a 4%-5% volatility premium at the front end, according to data source Amberdata. Its indicating of strengthening downside fears. Taken together, these factors counsel caution for bitcoin bulls, with a decisive break above the Ichimoku cloud at $116,000 needed to restore bullish confidence and set the stage for further gains. Bitcoin Market market analysis AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You OwlTing: Stablecoin Infrastructure for the Future By CoinDesk Research Oct 16, 2025 Commissioned by OwlTing Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent. View Full Report More For You Bitcoin Tumbles Back to $110K on Fed's Powell's Hawkish Comments By Stephen Alpher , Krisztian Sandor 1 hour ago Though acknowledging growing weakness in the labor market, Powell said a December rate cut is not a "foregone conclusion." What to know : Fed Chair Jerome Powell was unexpectedly hawkish in his press conference Wednesday, suggesting markets are way ahead of themselves in pricing in a December rate cut. The news sent markets lower, bitcoin among them, now down 5% over the past 24 hours and below $110,000. 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