The price of Bitcoin (BTC) recovered past the $112,000 resistance level last weekend and was trading at $113,724 at the time of writing, according to CryptoSlate facts. Bitcoin’s price crossed the $113,000 mark for the second time this week: on October 21, BTC was trading at $113,678.
The latest price move has helped Bitcoin’s value recover almost half of the losses from the price crash earlier this month. On October 10, the big crash occurred that wiped billions from the crypto market, sending Bitcoin’s price down to $103,000 on October 17.
Fed rate cut coming
Bitcoin’s strong weekly close comes as the market expects the Federal Reserve to cut rates by 0.25% at its upcoming meeting on October 29.
On Saturday, the U.S. Bureau of Labor Statistics released inflation data for September, which was weaker than expected. According to the report, both the consumer price index (CPI) and core CPI for September were 3%, below the expected 3.1%.
As a financial newsletter, The Kobeissi Letter, reportedCPI data indicate a Fed rate cut next week. FedWatch from the CME Group tool also estimated the probability that the Federal Reserve will cut rates at 98.3%.
An interest rate cut typically leads to a rise in cryptocurrency prices as borrowing becomes cheaper and high-risk assets become attractive.
Ethereum’s gains surpass Bitcoin
Over the past 24 hours, the price of Ethereum (ETH) has risen 3.58%, almost double Bitcoin’s 1.94% gain. CryptoSlate data indicate.
Solana (SOL) and Cardano (ADA) both came close to Ethereum’s growth over the past day, with 3.46% and 3.45% respectively.
However, when it comes to weekly gains, Bitcoin has taken the trophy with a growth of 4.97% over the past seven days – more than double Ethereum’s gain of 2.37%.
Among the top 10 tokens, XRP’s price rose the most over the past week: 9.27%, data shows.
The market is optimistic
The crypto market is optimistic about the prospect of Bitcoin price growth, with this weekend’s gains solidifying the path to new all-time highs. A high-risk speculative Web3 investor who goes by Borovik at Another user, Marzell, wrote:
“As long as the price remains above this area, the near-term bullish structure remains intact.”
Marzell added that if Bitcoin’s price momentum remains unchanged, the next major target would be above $117,000.
Another Bitcoin trader, who goes by Merlijn The Trader on X, noted that Bitcoin reserves on exchanges have fallen to 2.4 million. “If supply dries up, the price won’t stay low for long,” he says wrote.
It is worth noting that the Bitcoin Fear and Greed Index has also risen sharply from fear to neutral territory, indicating a shift in market sentiment. At the time of writing it stood at 40, compared to 29 last week and 37 on Saturday.
At the time of printing 00:05 UTC on October 27, 2025Bitcoin is number 1 in terms of market capitalization and so is its price upwards 2.73% in the last 24 hours. Bitcoin has a market capitalization of $2.29 trillion with a 24-hour trading volume of $40.42 billion. Learn more about Bitcoin ›
At the time of printing 00:05 UTC on October 27, 2025the total crypto market is valued at € $3.88 trillion with a 24 hour volume of $122.05 billion. Bitcoin’s dominance currently stands at 58.92%. Learn more about the crypto market ›