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Bitcoin Climbs to $111K as Whipsaw Action in Crypto Continues
The trend has most definitely not been your friend this week as dips get bought and rallies get sold.
Updated Oct 24, 2025, 12:53 a.m. Published Oct 23, 2025, 6:47 p.m.
What to know:
- Crypto markets are rallying Thursday, continuing the up/down pattern of the week.
- A presidential pardon of CZ and gains in traditional markets are catalysts for today's advance.
- Key U.S. inflation data is set to be released on Friday morning.
Crypto markets were in rally mode on Thursday alongside sizable gains in stocks, a U.S. presidential pardon for Binance founder Changpeng Zhao, and ahead of tomorrow's key reading on September inflation.
In mid-afternoon U.S. trading, bitcoin was up 2.7% over the past 24 hours to $110,700, down a hair from the day's high of $111,100. The action came following Wednesday's strong decline which had pushed the price below $107,000. The Wednesday drop came following Tuesday's sharp rise which had brought BTC as high as $114,000.
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The back and forth action is commonly known as a whipsaw pattern and usually results in the emptying of pockets of those who try and trade with the trend.
The broader crypto sector is rallying as well, with ether , and all ahead in the 2%-3% range. Notable outperformers include solana and BNB with advances of more than 5% — BNB getting a boost after President Trump pardoned Binance founder Changpeng "CZ" Zhao.
Crypto-related stocks, which suffered big losses across the board in Wednesday's selloff, are bouncing today. Bitcoin miner Hut 8 (HUT) is climbing 7.3% after tumbling 17% the previous session. Coinbase (COIN) and Strategy (MSTR) are each higher by about 2%.
The better tone Thursday comes amid the aforementioned pardon of CZ — which suggests a continuing friendly regulatory environment in the U.S. — and gains in U.S. stocks, which had also dipped on Wednesday. A bit more than an hour before the close, the Nasdaq is higher by 1%.
Looking ahead, the U.S. government — despite the continuing shutdown — is still set to release the September Consumer Price Index (CPI) report on Friday morning. This is likely the last piece of important economic data the Federal Reserve will see prior to its rate-setting meeting next week.
At the moment, markets are in full expectation that the Fed will trim its benchmark fed funds rate another 25 basis points at this meeting and another 25 basis points at its final meeting of the year in December.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
What to know:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
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