Sep 28, 2025
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Bitcoin Price Could Hit $200K With Dovish Fed Chair: Novogratz
The price of Bitcoin has shown mixed performance in 2025, with a low of $74,000 earlier this year and multiple all-time highs above $120,000. Recently, it has been in a consolidation phase.
Potential Catalyst for Bitcoin Rally
- Galaxy Digital CEO Mike Novogratz suggests that the replacement of US Federal Reserve Chair Jerome Powell with an "exceptionally dovish" successor could trigger a significant rally for Bitcoin.
- A dovish Fed chair would likely support looser monetary policies, such as interest rate cuts, potentially pushing Bitcoin's price to $200,000.
- Lower interest rates often lead investors to move towards digital assets and equities due to less attractive returns from traditional investments like bonds.
Novogratz cautioned about the potential negative impact of aggressive rate cuts on the US dollar, which could affect market dynamics.
The Federal Reserve has already implemented a 25 basis point rate cut following the FOMC meeting in September, with more expected before the end of 2025.
Current Bitcoin Price Status
Despite a positive response to the recent Fed rate cut, Bitcoin is currently valued at approximately $109,570, showing a slight 0.1% decline over the past day.
