Bitcoin Xmas rally dependant of Jerome Powell

Where are the buyers? That’s the question for Bitcoin right now. It’s been clear for some time that the level above $100,000 would be difficult to maintain without further stimulus and with the many “AI bubble” stories, but where is that support?

Analysts believe a drop below $90,000 could attract new buyers, while others don’t even rule out a visit to $50,000-$60,000. Panic is slowly gripping the crypto market again.

Xmas rally

I was discussing it with some fellow commentators this week. The P/E ratio (price per earnings) of many tech stocks is far too high, so a selloff was actually a logical (and healthy for the broader market) move. Just to let off some steam so that stocks and crypto look “cheaper” again.

$BTC is approaching a crucial support zone.

I think the $88,000-$90,000 level will be the local bottom for Bitcoin.

If BTC fails to hold this zone, expect a revisit of the April 2025 low. pic.twitter.com/ZHeRA3AjGz

— Ted (@TedPillows) November 15, 2025

However, the timing is odd, as mid-November is normally the time to calmly consider a Christmas rally.

Historically, this is also the case for Bitcoin, but not this year. After a poor “uptober,” November threatens to end even more dramatically for the biggest digital currency. And then there’s December, with a final Federal Reserve meeting of which many analysts are now beginning to doubt whether Jerome Powell (Chairman of the Fed) will choose not to implement a final rate cut, simply because he also believes P/E ratios are too high and the market needs to cool down first.

What seemed like a very positive year for Bitcoin a month ago suddenly looks very different.