BTC Reaches $111K Amid Choppy Price Action Across Crypto

Bitcoin Hits $111K as Crypto Volatility Persists Amid CZ Pardon

Crypto markets moved higher on Thursday, lifted 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 around $110,700, up 2.7% over 24 hours, slightly below the day’s high of $111,100. The move followed Wednesday’s dip below $107,000, itself coming after Tuesday’s surge toward $114,000, a classic whipsaw pattern that has challenged trend traders.

Other major cryptocurrencies also advanced: Ether (ETH) climbed to $3,883.66, DOGE to $0.1948, and ADA to $0.6446, each gaining 2%-3%. Solana (SOL) and BNB outperformed with over 5% gains, the latter boosted by CZ’s pardon.

Crypto equities rebounded as well. Hut 8 (HUT) jumped 7.3%, while Coinbase (COIN) and MicroStrategy (MSTR) rose about 2%.

The CZ pardon reinforces a crypto-friendly regulatory environment, supporting market sentiment alongside equities. Traders are now focused on Friday’s CPI release, the final major economic indicator before the Federal Reserve’s rate-setting meeting, with markets expecting a 25-basis-point cut, and a possible further reduction in December.