The events that took place last Friday were quite painful as bitcoin’s price tumbled from over $110,000 to under $104,500 in the span of just a day or so. However, the asset finally found a solid floor at that point and started to recover in the following days.
At first, it returned to $107,000, where it spent most of the weekend trading sideways. The bulls began a more impressive leg up that drove the asset to just over $111,000. It retraced sharply on Tuesday morning but skyrocketed in the evening past $114,000 to set a weekly high. However, this sporadic rally came to a halt almost immediately, and the subsequent rejection was quite violent.
In just hours, BTC found itself dumping toward $106,000, thus erasing nearly $8,000. The support at that level held and prevented bitcoin from another leg down to under $105,000 for the second time in less than a week.
The cryptocurrency began its gradual ascent and tapped $111,000 earlier today. More volatility was expected as the day progressed due to the highly anticipated US CPI data for September. Once those numbers came out, and were lower than anticipated, BTC shot up by a grand to $112,000, only to be stopped again and drive south to its starting point.
Still, the weekly chart is quite promising as it shows a healthy 5.7% increase. Many altcoins have posted even more impressive gains within this timeframe, including DOGE, SOL, LINK, HYPE, and BCH.
The total crypto market cap has recovered $200 billion and is up to $3.850 trillion on CG.
Market Data
Market Cap: $3.850T | 24H Vol: $160B | BTC Dominance: 57.7%
BTC: $111,350 (+5.7%) | ETH: $3,965 (+5%) | XRP: $2.48 (+8.9%)
This Week’s Crypto Headlines You Can’t Miss
Jamie Dimon’s JPMorgan Embraces Crypto: BTC and ETH to Be Used as Collateral (Report). The big news from Friday, at least before the US CPI numbers were announced, came from JPMorgan as a Bloomberg report indicated that the banking organization plans to allow its global institutional clients to use their BTC and ETH as collateral for loans.
Bitcoin’s Next Move Depends on These 3 Key Factors. The primary cryptocurrency has traded mostly sideways for the past week, but there are several catalysts that can move it. Namely, those are the aforementioned CPI data and the subsequent FOMC meeting next week, the US government reopening, and the Trump-Xi meeting scheduled to take place by the end of the month.
Donald Trump Grants Pardon to Changpeng Zhao (CZ): Reports. The US President continues with his positive approach to the crypto industry and (some of) its participants by granting a presidential pardon to the founder of Binance, Changpeng Zhao. The exec expressed his gratitude to Trump on social media, but there was also some controversy from the POTUS’s actions.
Coinbase Acquires Echo in a $375 Million Deal. The largest US-based crypto exchange has made several big moves in 2025, with the latest being splashing $375 million to acquire Cobie’s capital-raising platform, Echo. The deal was executed in a mix of cash and stock.
Hyperliquid Strategies Targets Massive Expansion After $1 Billion S-1 Filing. The entity behind the popular exchange filed an S-1 statement with the US Securities and Exchange Commission to raise up to $1 billion in a public offering. It plans to use the proceeds for general corporate purposes, including expanding its HYPE token treasury holdings.
New Monday, New Bitcoin Purchase: Strategy Increases Its Holdings to 640,418 BTC. It wouldn’t be a regular post-US election Monday if Saylor’s Strategy didn’t announce its latest BTC acquisition. The company spent $18.8 million to acquire 168 bitcoins at an average price of $112,051 per unit.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
The post Bitcoin Reclaims $110K Ahead of FOMC Meeting After Bullish CPI Data: Your Weekly Crypto Recap appeared first on CryptoPotato.
