- Bitcoin rebounds to $111K, posting a 2.7% daily gain amid volatile trading.
- Trump’s pardon of CZ and stock market gains boost crypto sentiment.
- Markets await Friday’s CPI data, seen as key to the Fed’s next rate decision.
Bitcoin rebounded to $111,000 on Thursday after a choppy week that saw repeated swings between sharp gains and fast declines. The latest rally came alongside broader gains in traditional markets and a presidential pardon for Binance founder Changpeng “CZ” Zhao, which lifted sentiment across exchange-linked tokens.
In mid-afternoon U.S. trading, BTC rose 2.7% over 24 hours, touching a high of $111,100 before easing slightly. The whipsaw pattern has kept traders guessing, as each dip finds buyers while every surge invites profit-taking — a classic sign of uncertainty dominating short-term flows.
Altcoins and Crypto Stocks Join the Recovery
Broader crypto markets followed suit. Ether (ETH), Dogecoin (DOGE), and Cardano (ADA) each gained between 2% and 3%, while Solana (SOL) and BNB outperformed with over 5% jumps. BNB’s rally was directly tied to Trump’s pardon of CZ, which reinforced expectations for a more crypto-friendly regulatory climate under the new administration.
Crypto-related equities also recovered from Wednesday’s steep losses. Hut 8 (HUT) rebounded 7.3% after a 17% plunge the prior day, while Coinbase (COIN) and Strategy (MSTR) climbed about 2%. Meanwhile, the Nasdaq gained roughly 1%, reflecting a risk-on tone across markets.
Traders Eye Friday’s CPI Report and Fed Moves
Markets now await Friday’s U.S. Consumer Price Index (CPI) release — the final key data point before next week’s Federal Reserve policy meeting. Despite the ongoing government shutdown, the report is expected to be published as planned.
Investors widely expect the Fed to cut rates by 25 basis points next week and again in December, bringing borrowing costs closer to the 3.75–4.00% range. These expectations have helped cushion risk assets, though volatility remains elevated as traders navigate shifting narratives.
