Bitcoin Climbs to $111K as Whipsaw Action in Crypto Continues

Why It Matters

Traders face continued volatility with rapid reversals that punish trend followers, while the CPI data and expected Federal Reserve rate cuts next week are likely to be the next market-moving catalysts.

Summary

Bitcoin rose to about $110,700 Thursday, trading near a $111,100 intraday high and up roughly 2.7% over 24 hours as crypto markets and related stocks rallied after a volatile week of whipsaw moves. The advance was buoyed by a presidential pardon for Binance founder Changpeng Zhao — lifting BNB and signaling a friendlier U.S. regulatory backdrop — and stronger U.S. equities ahead of Friday’s September CPI print. Traders face continued volatility with rapid reversals that punish trend followers, while the CPI data and expected Federal Reserve rate cuts next week are likely to be the next market-moving catalysts.