Bitcoin rebounds near $110,000 as US–China accord counters ETF outflows, hawkish Fed: analysts
Bitcoin recovered toward $110,000, driven by a US-China trade deal easing risk sentiment despite hawkish Fed comments and heavy ETF outflows.Summary
Bitcoin rebounded to near $110,000 after a volatile session influenced by Federal Reserve Chair Jerome Powell suggesting a December rate cut was not guaranteed, which initially pushed BTC near $107,000. Analysts noted that market focus shifted from the Fed's cautious stance to positive sentiment generated by a U.S.–China trade accord, which included tariff reductions announced after a meeting between Presidents Trump and Xi Jinping. This diplomatic development provided a "confidence boost" amid a U.S. data blackout complicating macro visibility. The positive sentiment contrasted with continued caution reflected in U.S. spot crypto ETFs, which saw significant net outflows on Thursday, though spot Solana ETFs experienced inflows. Despite October being a weak month for BTC following large liquidations, analysts remain optimistic, projecting BTC to hold the $110,000-$120,000 range post-Fed rate decision, anticipating macro improvements in November.
(Source：The Block)