Bitcoin price starts $112K breakout as Fed rate-cut odds pass 98%
Bitcoin challenged $112,000 as traders anticipate further highs, supported by high odds of a Federal Reserve rate cut next week.Summary
Bitcoin (BTC) showed upside volatility, challenging the $112,000 resistance level as the weekly close approached, with traders hoping for new local highs. Analysts noted that a clean break above $112,000 could confirm a bullish continuation toward $123,000, while reclaiming the $113,000 short-term holder cost basis might target the $130,000–$144,000 range. This positive momentum is further supported by expectations surrounding the US Federal Reserve's upcoming meeting; following cooler inflation data, the odds of the Fed cutting interest rates by 0.25% at their October 29 meeting surpassed 98%. This anticipated monetary easing aligns with a global trend where 82% of world central banks have cut rates in the last six months, signaling widespread global monetary easing.
(Source：Cointelegraph)