Bitcoin may be approaching a breakout as the U.S. Federal Reserve shifts toward policy easing, contributing to rising global liquidity and increased investor movement into risk assets. On Oct. 29, the Federal Reserve announced its second interest rate cut of 2025, lowering the federal funds rate by 25 basis points to a target range of 3.75%–4% and signaled that quantitative tightening will end on Dec. 1.

Crypto research strategist Matt Mena at 21shares said the firm sees conditions aligning for further upside in digital assets, stating:

Overall, we remain moderately risk-on and see a credible path for bitcoin to break its all-time high before year-end … The stage is set for bitcoin to decisively surpass its $124K peak and potentially end the year in the $130K–$150K range, with ethereum trading in the $5K–$6K range.

He added: “Ethereum could potentially retest the $5K psychological barrier as policy tailwinds, liquidity rotation, and positive sentiment converge.” The strategist also noted that “improving policy clarity—the likely resolution of the government shutdown and the long-awaited Clarity Act and Crypto Market Structure Bill finally taking effect—signals a more constructive regulatory backdrop heading into 2026.”

However, bitcoin’s momentum briefly stalled following remarks by Federal Reserve Chairman Jerome Powell, who tempered expectations for another cut this year. During the Federal Open Market Committee press conference, Powell stated:

A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.

“We haven’t made a decision about December, and we’re going to be looking at the data that we have and how that affects the outlook and the balance of risks,” the Fed chair added. His hawkish tone sent bitcoin momentarily below $110,000 to $109,800 and dragged equities lower, with the Dow shedding nearly 200 points. Despite the short-term dip, analysts interpret Powell’s comments as signaling a data-dependent stance rather than a policy reversal, suggesting the broader easing cycle remains intact and continues to favor bitcoin and ethereum heading into year-end.

• Why is bitcoin expected to reach new all-time highs soon?
  Accelerating global liquidity, Fed rate cuts, and strong investor rotation into risk assets are fueling bullish momentum for bitcoin’s potential record-breaking rally.
• How does the Federal Reserve’s latest policy shift impact crypto markets?
  The Fed’s move toward easing and ending quantitative tightening boosts market liquidity, which historically supports higher crypto valuations.
• What price targets are analysts setting for bitcoin and ethereum?
  Analysts see bitcoin rising toward $130K–$150K by year-end and ethereum retesting the $5K–$6K range amid supportive policy and sentiment trends.
• Is the Fed likely to cut rates again before year-end?
  While Jerome Powell signaled caution, most analysts view his remarks as data-dependent, keeping another potential cut on the table if conditions warrant.

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