Standard Chartered’s Geoffrey Kendrick correctly predicted a dip below $100K last month. What he was wrong about was how persistent that dip would be. “It may be the last time Bitcoin is EVER below 100k,” Kendrick said. BTC went on to tumble all the way to $80K and has floundered since. But perhaps a December rate cut will be a bullish enough sign to buoy the cryptocurrency back into six-figure territory.

Read more: The Fed May Have Just Resuscitated Bitcoin

On Friday, New York Fed President John Williams gave a strong indication that the central bank was leaning towards lowering rates as it readies for its final policy meeting next month. “I still see room for a further adjustment in the near term to the target range for the federal funds rate,” Williams said. That sentence alone lifted both stocks and bitcoin.

(Current Director of the National Economic Council, Kevin Hassett, may soon become the new Chairman of the U.S. Federal Reserve.)

And now, on Tuesday, Bloomberg reported that Trump’s Director of the National Economic Council, Kevin Hassett, has emerged as the frontrunner for the Federal Reserve chairman role after current incumbent Jerome Powell exits in May. Hassett is known as a Trump loyalist and has openly supported the president’s vision of lowering interest rates. “I think that the president thinks rates could be a lot lower, and I agree with him on that,” Hassett said in a separate Bloomberg interview just two weeks ago.

(The odds of a December rate cut have jumped to 85% in a matter of days after strong signs of a more dovish Fed / cmegroup.com)

The CME Fedwatch Tool’s odds for a December rate cut have now jumped to 85%. Yesterday, markets rallied after digesting Google’s unveiling of Gemini 3, the tech giant’s most advanced AI model. Google’s slow and steady approach to AI development has helped calm rampant fears of a bubble. All these developments signal an increasingly risk-on sentiment on Wall Street. If the bullishness persists, it may trigger a Christmas rally that takes bitcoin over the six-figure hurdle.

Bitcoin was down 2.46% over 24 hours and was priced at $86,413.29 at the time of writing, according to Coinmarketcap data. Weekly performance was also negative, with the digital asset falling 7.29%. Volatility in the last 24 hours was relatively low, as bitcoin’s price fluctuated between $86,131.43 and $89,206.34.

( BTC price / Trading View)

Daily trading volume fell 12.07% to $65.3 billion, and market capitalization was also lower at $1.73 trillion. Bitcoin dominance eased 0.22% to 58.64%, indicating slightly poorer performance relative to altcoins.

( BTC dominance / Trading View)

Total bitcoin futures open interest came in noticeably lower by nearly 3% at $59.24 billion, Coinglass data shows. Liquidations also eased over 24 hours, but only slightly, reaching a total of $99.26 million at the time of writing. Losses were somewhat split between bullish long investors and bearish short sellers, with the former seeing $58.78 million wiped out and the latter losing $40.48 million in liquidated margin.

• Why is bitcoin struggling to stay above $100K?
  Persistent macro uncertainty and weeks of selling pressure have kept BTC under six figures.
• Could a December rate cut push bitcoin higher?
  Markets widely expect a cut, and cheaper money typically improves crypto risk appetite.
• Why does Kevin Hassett matter to bitcoin investors?
  He’s now the leading Fed chair contender and has publicly supported lowering rates.
• Will bitcoin hit $100K again by Christmas?
  Nothing is guaranteed, but rising risk-on sentiment, AI-driven market optimism, and dovish Fed signals improve the odds.

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