Overview
- Bitcoin climbed to an intraday high above $116,000 and hovered near $115,000–$116,000, extending a weekend rebound from October’s flash‑crash lows.
- Futures markets via CME FedWatch price a 98–99% chance of a 25 bp Federal Reserve rate cut on Oct. 29, reinforcing risk‑on positioning across crypto.
- Reports of a preliminary U.S.–China trade framework reached in Malaysia, with Treasury Secretary Scott Bessent indicating a halt to threatened 100% tariffs, lifted market sentiment.
- Derivatives positioning reset further as CoinGlass tracked roughly $400 million in 24‑hour liquidations, mostly shorts, following an earlier $12 billion open‑interest wipeout on Oct. 10.
- Glassnode data show about 62,000 BTC left long‑term storage while whales absorbed supply; ETF flows were mixed with modest spot bitcoin inflows, leaving price action sensitive to the FOMC decision and planned Trump–Xi talks this week.