Yeliz Akmaca 
Bitcoin (BTC) surged to $112,779 as the odds of a Federal Reserve rate cut exceeded 98%. Ahead of the weekly close, this recovery increased BTC’s upward volatility and boosted interest in risk assets.
Bitcoin Tests $112,000 Resistance
BTC surpassed the critical $112,000 resistance level, maintaining its short-term bullish trend. Investors are targeting new local highs. Analysts note that a clean close above $112,000 could support a move toward $123,000.
Fed Rate Cut and Risk Assets
The U.S. Federal Reserve is expected to cut interest rates by 0.25% at its October 29 meeting. This expectation is supporting investors’ appetite for risk assets. According to CME Group’s FedWatch Tool, the probability of a rate cut in the upcoming meeting is above 98%.
Globally, 82% of central banks have cut rates in the past six months, the highest level since 2020. This indicates accelerated global monetary expansion and growing liquidity and investor interest in markets.
Investor Expectations and New Highs
Analysts suggest that if BTC surpasses the $113,000 short-term cost base, the $130,000–$144,000 target range could come into focus. Weekly closures usually see heightened volatility, supporting short-term price action.
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BTC tested the $112,000 resistance level
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Investors aim for new local highs
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Fed rate cut boosts risk asset markets
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Closing above $113,000 supports $130,000–$144,000 targets
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