TLDR
- Bitcoin trades inside an ascending triangle, eyeing a breakout toward $150K with key resistance at $117K.
- Trump urges a 100 BPS Fed rate cut, increasing speculation ahead of the upcoming FOMC decision.
- Metaplanet plans to invest $1.4B in Bitcoin after completing a major capital raise.
- Bitcoin RSI holds above signal line at 49.75, showing buying pressure amid macroeconomic developments.
Bitcoin is nearing a key technical breakout point as political and macroeconomic factors come into play. The cryptocurrency is trading within an ascending symmetrical triangle, and traders are closely watching for a move above resistance. Meanwhile, former U.S. President Donald Trump is pushing for a 100 basis points Federal Reserve rate cut, adding more attention to the upcoming FOMC decision. Institutional moves are also in focus as Metaplanet allocates $1.4 billion to expand its Bitcoin holdings.
Technical Setup Points to Breakout Toward $150K
Bitcoin is currently trading at $112,236 on the daily chart, maintaining its trend inside an ascending symmetrical triangle. The support level near $107,304 has remained stable, while resistance sits around $117,156, which aligns with the 0.618 Fibonacci retracement.
Traders are watching closely for a breakout above this resistance, which could confirm a continuation of the current trend. If confirmed, the price could aim for $123,731 based on the 1.0 Fibonacci extension. A further push may lead to $133,882, marked by the 1.618 extension.
The RSI is at 49.75 and sits above the signal line at 43.98, which suggests momentum may favor buyers. However, some periods of pullback within the triangle may occur, offering temporary consolidation before another move.
BTC/USD 1-Day Chart (Source: TradingView)
Beyond current levels, the 2.618 Fibonacci extension lies at $150,309. This level is now being mentioned as a possible year-end target, depending on both market sentiment and external events. The triangle setup continues to hold traders’ attention as it defines the short-term price path.
Trump Pushes Fed for 100 BPS Rate Cut Before FOMC
Donald Trump has renewed criticism of Federal Reserve Chair Jerome Powell and is calling for a large 100 basis points interest rate cut. He argues that the Fed has moved too slowly and that inflation targets are outdated for current economic conditions.
In a recent statement, Trump said, “We are stuck with a 2% inflation target that no longer fits today’s economy.” He has claimed that a stronger monetary response is needed to ease growing economic pressure. His comments come just before the Federal Open Market Committee (FOMC) is set to meet.
August’s jobs report, which showed only 22,000 jobs added against an expected 75,000, has added to the argument for looser monetary policy. Unemployment has also risen to 4.3%, the highest since 2021, increasing pressure on the Fed to act.
Markets are currently pricing in a smaller 25 basis points cut. However, Trump’s call has shifted focus and increased speculation about possible changes in future Fed moves. If larger cuts are introduced, traders believe they could push more capital into alternative assets like Bitcoin.
Metaplanet Allocates $1.4B to Increase Bitcoin Holdings
Tokyo-based firm Metaplanet has confirmed plans to allocate $1.4 billion from its recent capital raise to increase its Bitcoin reserves. The company stated that this move is part of its broader strategy to hold Bitcoin as a core treasury asset.
This decision follows a trend among public firms that see Bitcoin as a long-term store of value amid currency pressure and economic shifts. Metaplanet has not provided a fixed timeline for purchases but said funds would be deployed in phases.
The company’s commitment has drawn attention from both retail and institutional investors. Its entry into the market at scale could affect price movements, especially as supply remains fixed.
Metaplanet joins other firms such as MicroStrategy in expanding corporate-level Bitcoin holdings. The move is being watched as one more factor that may support price increases over the next several quarters.
With ongoing macroeconomic uncertainty, institutional interest, and technical alignment, Bitcoin’s price trajectory remains under watch. The next few weeks may prove key in determining whether the breakout toward $150,000 begins.
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