The total crypto market cap gained $80 billion on Thursday to hover about $3.8 trillion during the mid-North American trading session. Bitcoin (BTC) price rallied over 2% during the past 24 hours to reach a range high of about $111,295 before retracing to trade around $110,275 at press time.
Binance coin (BNB) and Solana (SOL) led the wider altcoin market in mild recovery on Thursday. Following the sudden crypto rebound, around $366 million was liquidated from the leveraged crypto market.
On Thursday, the crypto community celebrated the announcement that former Binance CEO Changpeng Zhao (CZ) has been pardoned by President Donald Trump. According to President Trump, the war on crypto orchestrated by the Biden administration is over.
Furthermore, a bipartisan group has been pushing to pass the Clarity Act to enhance crypto legislation in the United States.
The White House announced that President Trump will meet with China’s President Xi next week. Ahead of next week’s meeting, Treasury Secretary Scott Bessent is expected to meet with China’s vice premier on Friday, thus increasing the odds of a trade deal.
Meanwhile, the Federal Reserve is expected to begin its Quantitative Easing (QE) next week. Ahead of the anticipated Fed rate cut next week, CNBC noted that the Fed $1.5 trillion following the October and November rate cuts.
Following the recent gold retrace, calls for capital rotation to Bitcoin and the wider crypto market have increased. With only 7 days remaining till the end of October, Bitcoin and the wider crypto market are expected to gain more bullish momentum, fueled by rising institutional demand.
From a technical analysis, the Bitcoin price has been forming a market reversal pattern following the recent capitulation.
In the four-hour timeframe, the BTC/USD pair has been forming a potential inverse head and shoulders pattern coupled with bullish divergence of the Relative Strength Index (RSI). As such, BTC price has a high chance of reaching a new all-time high by Halloween 2025, unless it consistently falls below the support level around $106.5k.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The broader crypto market has slipped into a bearish phase, with Bitcoin dropping below $70,000…
Bitcoin fell to $75,000 over the weekend, down over 40% from its all-time high of…
Bitcoin (BTC) has recently slipped below the $80,000 psychological level, as thin liquidity and futures-related…
Story Highlights The live price of the BONK token is Price predictions for 2026 range…
The crypto market bears have strengthened since the start of the month as the top…
SBI Holdings CEO Yoshitaka Kitao shared Ripple's XRP Community Day 2026 announcement on X today,…
