Bitcoin Price Trickles Back To $92K as Fed Chair Race Heats Up Under Trump

The Bitcoin price has soared 3% in the last 24 hours to trade at $92,576 on a 16% daily trading volume drop to $66 billion.

The surge in BTC price comes as the race for the next US Federal Reserve chair intensifies, injecting fresh speculation into global markets. President Donald Trump is preparing to interview finalists this week, with Treasury Secretary Scott Bessent presenting a shortlist that includes former Fed governor Kevin Warsh and National Economic Council director Kevin Hassett, the current frontrunner. Their potential policy directions are drawing close attention from crypto traders.

Prediction markets initially priced Hassett at 85% odds after Trump referred to him as a “potential Fed chair,” but confidence has since slipped to around 73%, while Warsh sits near 13%. Trump has hinted he already knows who he wants for the role, suggesting an announcement could come as early as January.

Whoever takes over the Fed is expected to play a pivotal role in shaping market sentiment, with investors closely watching how the new chair approaches inflation, interest rates, and broader monetary policy.

Bitcoin Holds Above Key Support as Bulls Target Recovery To $100K

Bitcoin is trading around $92,483 after a 3% rebound, but the broader technical structure remains mixed, showing both recovery potential and downside risks. On the 3-day chart, BTC recently bounced from the 0.786 Fibonacci retracement level near $85,270 — a zone that aligns closely with the 200-day SMA at $88,831.82. This confluence created a strong demand area, helping price stabilize after weeks of persistent selling.

However, BTC remains below the 50-day SMA at $109,178, a key dynamic resistance level that has capped upward attempts since the mid-November breakdown. For the bullish case to strengthen, Bitcoin must reclaim this moving average and break above the 0.5 Fib zone around $99,957. Clearing this barrier would open the door toward the 0.382 Fib ($106,672) and eventually the major liquidity pocket around $120,000–$125,000, where the previous high sits.

BTCUSDT Chart Analysis Source: Tradingview

If buyers maintain momentum, the next medium-term target lies at the 0.272 and 0.618 extension zones, between $139,600 and $157,368. These levels could come into play if macro sentiment turns supportive and the upcoming Fed chair decision triggers broader market optimism.

On the downside, failure to hold above current levels risks sending BTC back toward the 200-day SMA support near $88,800. A daily or 3-day close below this level would expose the 0.786 Fib at $85,270 and potentially the long-term structural support near $74,281, which marks the 1.0 Fibonacci retracement level. Such a drop would signal deeper corrective pressure and invalidate the short-term recovery structure.

The RSI sits at 39, showing BTC hovering just above oversold conditions. This indicates that sellers are losing momentum, but buyers have not yet demonstrated strong control.