By Stephen Alpher | AI Rewrite Edition
In a week marked by relentless volatility, Bitcoin has once again seized the spotlight—surging past the $111,000 mark on Thursday as crypto markets mounted a powerful comeback. The rally follows a dramatic series of swings that have tested traders’ nerves and left both bulls and bears scrambling for control.
A Week of Whipsaws
After dipping below $107,000 on Wednesday in a sharp reversal, Bitcoin has clawed its way back with a 2.7% gain in the past 24 hours, trading near $110,700 by mid-afternoon in the U.S. The coin briefly touched $111,100 before easing slightly. This latest rebound continues the “whipsaw” pattern that has defined the week — wild intraday reversals that punish both short-term traders and overconfident trend followers.
Catalysts Behind the Surge
Thursday’s rally arrived amid multiple market-shifting events. A major headline came from Washington, where U.S. President Donald Trump granted a presidential pardon to Binance founder Changpeng “CZ” Zhao. The move was immediately interpreted by markets as a signal of a friendlier regulatory climate for digital assets.
At the same time, U.S. equity markets advanced, with the Nasdaq up nearly 1% in late trading. The simultaneous rise in stocks and crypto reflects a return of investor appetite for risk ahead of the key September Consumer Price Index (CPI) data due Friday morning.
Sector-Wide Momentum
The bullish momentum wasn’t limited to Bitcoin. Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) all gained between 2% and 3%, while standout performers included Solana (SOL) and BNB (BNB), each rallying more than 5%. BNB, in particular, benefited directly from the positive sentiment surrounding CZ’s pardon.
Crypto-linked equities also found their footing. Bitcoin miner Hut 8 (HUT) rebounded 7.3% after a 17% collapse the previous day. Coinbase (COIN) and MicroStrategy (MSTR) both rose about 2%, signaling renewed investor confidence across the digital asset ecosystem.
What’s Next for the Market
All eyes now turn to Friday’s CPI release — the final major data point before the Federal Reserve’s rate-setting meeting next week. With inflation pressures expected to moderate further, markets are broadly anticipating a 25-basis-point rate cut, followed by another reduction in December.
If those expectations hold, Bitcoin’s latest surge could be more than a short-term bounce — it may mark the beginning of a new leg higher in a market hungry for momentum and optimism.
For now, one thing is certain: the crypto market’s heartbeat is anything but steady, and the ride is far from over.
