{"id":61671,"date":"2025-10-24T04:09:49","date_gmt":"2025-10-24T04:09:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-climbs-to-111k-as-a-pardon-for-binances-cz-fuels-a-broad-crypto-rally\/"},"modified":"2025-10-24T04:09:49","modified_gmt":"2025-10-24T04:09:49","slug":"bitcoin-climbs-to-111k-as-a-pardon-for-binances-cz-fuels-a-broad-crypto-rally","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-climbs-to-111k-as-a-pardon-for-binances-cz-fuels-a-broad-crypto-rally\/","title":{"rendered":"Bitcoin climbs to $111K as a pardon for Binance&#8217;s &#8216;CZ&#8217; fuels a broad crypto rally"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/10\/bitcoin-price-dump-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/10\/bitcoin-price-dump-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/10\/bitcoin-price-dump-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/10\/bitcoin-price-dump-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>The crypto market is rallying, with Bitcoin climbing 2.7 percent to over $110,700.<\/li>\n<li>The rally was fueled by a presidential pardon for the Binance founder \u201cCZ.\u201d<\/li>\n<li>The pardon for Changpeng Zhao sent the price of BNB soaring by over 5 percent.<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The cryptocurrency market was firmly in rally mode on Thursday, with Bitcoin climbing back toward\u00a0<\/span><span class=\"ng-star-inserted\">$111,000<\/span><span class=\"ng-star-inserted\"> in a powerful rebound that was fueled by sizable gains in the US stock market and a stunning presidential pardon for the founder of the crypto exchange Binance, Changpeng \u201cCZ\u201d Zhao.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The broad-based rally marks another day of sharp, back-and-forth price action in a market that has been defined by extreme volatility in recent weeks.<\/span><\/p>\n<h2 class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">A presidential pardon sparks a relief rally<\/span><\/h2>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The primary catalyst for the market\u2019s improved tone was the unexpected news of President Trump\u2019s pardon for the Binance founder. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The move, which suggests a continuing friendly regulatory environment for the crypto industry in the US, had an immediate and powerful impact. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The price of BNB, the native token of the Binance ecosystem, surged by more than 5 percent on the news.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The positive sentiment spread across the broader crypto sector, with Bitcoin rising 2.7 percent over the past 24 hours to\u00a0<\/span><span class=\"ng-star-inserted\">$110,700<\/span><span class=\"ng-star-inserted\">, and other major tokens like Ether, DOGE, and ADA all posting gains in the 2 to 3 percent range. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Crypto-related stocks, which had suffered heavy losses in Wednesday\u2019s sell-off, also bounced back strongly, with the Bitcoin miner Hut 8 climbing 7.3 percent after tumbling 17 percent in the previous session.<\/span><\/p>\n<h2 class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">A classic whipsaw pattern continues<\/span><\/h2>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The powerful rebound comes just one day after a sharp decline that had pushed Bitcoin\u2019s price below $107,000. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">That drop, in turn, had followed a steep rise on Tuesday that had seen the leading cryptocurrency climb as high as $114,000. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This volatile, back-and-forth action is a classic whipsaw pattern, a market condition that often punishes traders who try to chase the trend.<\/span><\/p>\n<h2 class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">All eyes on a pivotal inflation report<\/span><\/h2>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">With the pardon now digested, the market\u2019s focus is turning to the next major potential catalyst: the US government\u2019s September Consumer Price Index (CPI) report, which is still set to be released on Friday morning despite the ongoing government shutdown.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This will likely be the last piece of important economic data that the Federal Reserve will see before its crucial rate-setting meeting next week. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The market is currently in full expectation of a 25-basis-point cut at that meeting, with another quarter-point reduction priced in for the final meeting of the year in December. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The CPI report will be the final and most important test of that conviction.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-climbs-to-111k-as-a-pardon-for-binances-cz-fuels-a-broad-crypto-rally\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The crypto market is rallying, with Bitcoin climbing 2.7 percent to over $110,700. The rally was fueled by a presidential pardon for the Binance founder \u201cCZ.\u201d The pardon for Changpeng Zhao sent the price of BNB soaring by over 5 percent. [&hellip;]<\/p>\n","protected":false},"author":3947362378,"featured_media":61672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/61671"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362378"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=61671"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/61671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/61672"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=61671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=61671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=61671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}