The probability of the Federal Reserve reducing interest rates is over 98%. The price of Bitcoin has

As the close of the week approaches, the price of Bitcoin continues to rise, with a clear positive sentiment prevailing. The price of BTC has recently approached $113,000. Market analysts believe that this increase is partly driven by expectations regarding the Federal Reserve’s monetary policy decisions. Investors are taking preemptive actions in anticipation of key interest rate announcements. At the same time, trading volume and blockchain activity have also increased, indicating continuous inflow of funds, which helps keep Bitcoin strong before important policy decisions. It is likely that the positive trend will continue in the short term.

Key points:

● At the end of the week, Bitcoin experienced an upward movement, breaking through the resistance level of $112,000.

● As the price of BTC continues to rise, traders expect new local highs to be reached in the future.

● It is expected that the Federal Reserve will cut interest rates again next week. Bitcoin

Since traders hope to reach new local highs, the closing price on Sunday challenged the $112,000 level.

One-hour chart of BTC/USD. Source: Cointelegraph/TradingView

Traders are focusing on potential new highs during this round of fluctuations

Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC fluctuated within a certain range over the weekend.

Driven by positive inflation data from the US, a rebound in late Friday helped bulls reach higher levels within this week's range.

Now, market participants see the possibility of further increases. Weekly closes usually involve greater volatility.

交易员 Crypto Caesar 观察到当天重新测试了 112,000 美元的阻力位。他在 X 上的一篇文章中写道 ：“彻底突破并收于该价位上方，可以确认看涨势头将持续至 123,000 美元。”

BTC/USDT 永续合约单日走势图。资料来源：Crypto Caesar/X

加密货币投资者和企业家 Ted Pillows 也有类似的想法。

“$BTC 似乎处于短期上升趋势。连续 4 个绿色日蜡烛，这意味着有人在这里持续 TWAPing 比特币，”他当天告诉 X 粉丝。

“我仍然关注 112,000 美元至 114,000 美元的区域，因为回升可能很快将 BTC 推高至 118,000 美元以上。”

BTC/USDT 单日走势图。资料来源：Ted Pillows/X

其他人则在一旁等待，以著名经济学家弗兰克·费特 (Frank Fetter) 命名的 X 分析账户“观望”着 113,000 美元的突破。

该公司上周补充说 ，这代表了比特币短期持有者(持有时间最长为六个月的实体)的当前总成本基础。

报告称：“如果 BTC 能够收回 11.3 万美元的短期持有者成本基础，那么进入 13 万美元至 14.4 万美元的蓝色区间感觉是对的。”

The cost basis of Bitcoin. Source: Frank A. Fetter/X

. The possibility of the Federal Reserve cutting interest rates could boost the performance of risk assets

. Looking ahead, the coming week will bring another important event for investors in cryptocurrencies and risk assets.

. The Federal Reserve just released inflation data that was lower than expected. It is expected that the rate of interest cuts will be 0.25% at the meeting on October 29th.

. As of this writing, data from the FedWatch tool provided by the CME Group indicates that the probability of such a outcome is over 98%.

. Probabilities regarding the target interest rate at the Federal Reserve’s FOMC meeting in October (screenshot). Source: CME Group

. Comments and trading resources: Kobeissi’s letter places the Federal Reserve’s interest rate cuts within the context of a global shift in central bank policies.

. “So far, 82% of central banks worldwide have cut interest rates in the past six months, which is the highest rate since 2020. In this century, central banks have only cut interest rates during economic recessions,” the newspaper wrote on X.

. “Global monetary easing is underway.”

. Global central bank interest rate data. Source: The Kobeissi Letter/X