Bitcoin Climbs to $111K as Crypto Volatility Continues Amid CZ Pardon
Crypto markets rose on Thursday, fueled by U.S. stock gains, the presidential pardon of Binance founder Changpeng Zhao (CZ), and anticipation of Friday’s September CPI report.
By mid-afternoon U.S. trading, Bitcoin (BTC) traded near $110,700, up 2.7% over 24 hours, just below the day’s peak of $111,100. The move followed Wednesday’s dip below $107,000, which itself came after Tuesday’s spike toward $114,000—a classic whipsaw pattern that has caught trend traders off guard.
Other major cryptocurrencies also advanced: Ether (ETH) rose to $3,883.66, DOGE to $0.1948, and ADA to $0.6446, each gaining 2%-3%. Solana (SOL) and BNB led the pack with over 5% gains, the latter boosted by CZ’s pardon.
Crypto equities bounced as well: Hut 8 (HUT) surged 7.3%, while Coinbase (COIN) and MicroStrategy (MSTR) climbed roughly 2%.
The CZ pardon underscores a crypto-friendly regulatory outlook, supporting market sentiment alongside equities. Traders now turn their attention to Friday’s CPI release, the last major economic indicator before the Federal Reserve’s next rate-setting meeting, where another 25-basis-point cut is expected, with a potential additional reduction in December.
