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. Because apparently, $80 billion is just a midweek snack for the crypto market. 🍔
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. Congrats to the alts-finally getting their 15 minutes of fame while others sit in the crypto bleachers. 🏅
Main Reasons Why Crypto Gained Today?
Regulatory Goodwill from the United States
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.
Plot twist: CZ walks free, and the crypto world does a happy dance. Meanwhile, the rest of us are still trying to figure out how to use a Venmo PIN. 🕺
Furthermore, a bipartisan group has been pushing to pass the Clarity Act to enhance crypto legislation in the United States. Let’s call it “Clarity” or “Finally Making Sense of This Chaos.” Either way, it’s a step up from alphabet soup. 🥣
Trade War Certainties amid Anticipated Fed’s QE
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.
Geopolitical drama, baby! Just what we needed instead of another reality TV show. 🌏📺
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. Magic trick: Turning thin air into money. Boom. 💰✨
Capital Rotation from Gold Amid ‘Uptober’ Narrative
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.
Investors are trading their sparkly rock for… well, this. Priorities, people! 💎➡️🚀
Can BTC Price Reach New ATH By Halloween 2025?
From a technical analysis, the Bitcoin price has been forming a market reversal pattern following the recent capitulation.
A BULLISH FLIP
This is one hell of a crazy similarity…
$BTC has an identical structure to the 2022/23 flip of resistance that resulted in an +80% rally, why do you think it’s over?
Higher to go
– CRYPTOWZRD (@cryptoWZRD_) October 23, 2025
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.
Technical analysis: When charts look like modern art and you’re 90% sure it’s a sign. 🎃🔮
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2025-10-23 23:48