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Bitcoin rises above $110k as traders eye Fed rate cuts
Bitcoin rose above US$110,000 on October 20, climbing 3.2% in the past 24 hours after four days below that mark, according to The Block’s data.
Ether also gained 3.6% to trade at US$4,000, while BNB, XRP, and Solana reported similar increases as the broader cryptocurrency market rebounded.
Analysts cited renewed confidence among traders, with factors such as institutional inflows and expectations of a potential US interest rate cut in October contributing to the rise.
The CME Group’s FedWatch Tool showed a 98.9% probability of a 25-basis-point rate cut at the next Federal Reserve meeting.
Recent macroeconomic events, including concerns about US regional banks and China tariffs, had pressured the market.
Analysts pointed to US$107,000 as a key support level for bitcoin, warning that a drop below this could trigger liquidations, while sustained momentum above US$111,000 might drive further gains.
🔗 Source: The Block
🧠 Food for thought
Implications, context, and why it matters.
ETF demand shapes Bitcoin’s rebound as flows look mixed
- U.S.-listed bitcoin ETF Assets Under Management (AUM) sat near $120 billion by mid-2025 1, though daily flows need review to confirm renewed buying after last week’s dip 2.
- North America accounts for 26% of crypto activity, and December 2024 peaked at $244 billion 1. The election of president Trump and monetary easing (central banks loosening policy) likely helped 1.
- Bitcoin ETFs have raised correlation between Bitcoin and traditional risk assets by tying demand to U.S. monetary policy cycles 1. Rate cut odds at 98.9% sway price action beside the rebound.
Crypto infrastructure firms can tap retail re-entry in high-adoption emerging markets
- Fintech platforms and payment processors should focus on India’s $338 billion in volume, helped by Unified Payments Interface (UPI), a real-time bank-to-bank network 3. Pakistan’s mobile-first population uses stablecoins, cryptocurrencies pegged to fiat currencies, for freelance payments 3.
- Wallet providers and on-ramp services can prioritize Bitcoin, the primary fiat on-ramp with over $4.6 trillion in fiat inflows between July 2024 and June 2025 4. Start with Bitcoin purchases before broadening to other assets.
- E-commerce platforms and point-of-sale software providers can build for demand since stablecoin transfer volumes in 2025 often exceeded $2 trillion per month 1. Merchant tools that add stablecoins alongside Bitcoin can serve users who want price upside and payment stability.
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