Bitcoin retraces nearly half its losses from October crash amid Fed rate-cut expectations

Bitcoin's price rebounded past $113,000 over the weekend, recovering almost half of the losses sustained during the October 10th crash that saw prices dip to $103,000. This rally is fueled by strong market anticipation that the Federal Reserve will cut interest rates by 0.25% at its upcoming meeting on October 29, following weaker-than-expected September inflation data (CPI at 3.0%). A rate cut typically boosts crypto prices by making borrowing cheaper and increasing the attractiveness of high-risk assets. While Ethereum saw greater short-term gains, Bitcoin led weekly growth. Market sentiment is optimistic, with analysts noting that holding above $113,000 suggests a path to new all-time highs, further supported by decreasing exchange supply and a rising Fear and Greed Index.

(Source：CryptoSlate)