The total crypto market cap gained $80 billion on Thursday to hover around $3.8 trillion midway through the North American trading session. Bitcoin 
BTCUSDT the price rose over 2% in the past 24 hours to a high of around $111,295 before returning to $110,275 at press time.
Binance Coin (BNB) and Solana 
SOLUSDT led the broader altcoin market in a slight rally on Thursday. Following the sudden crypto rebound, approximately $366 million was liquidated from the leveraged crypto market.
Top Reasons Crypto Won Today?
U.S. Regulatory Goodwill
On Thursday, the crypto community celebrated the news that former Binance CEO Changpeng Zhao (CZ) was pardoned by President Donald Trump. According to President Trump, the war on crypto orchestrated by the Biden administration is over.
Additionally, a bipartisan group has been pushing to pass the Clarity Act to strengthen crypto legislation in the United States.
Certainties linked to the trade war in a context of quantitative easing expected by the Fed
The White House announced that President Trump will meet with Chinese President Xi next week. Before next week’s meeting, Treasury Secretary Scott Bessent is expected to meet with China’s vice premier on Friday, increasing the chances of a trade deal.
Meanwhile, the Federal Reserve is expected to launch its quantitative easing (QE) program next week. Ahead of next week’s planned Fed rate cut, CNBC noted that the Fed reportedly spent $1.5 trillion after the October and November rate cuts.
Rotation of capital from gold in the middle of the “so far” narrative
Following gold’s recent retracement, calls for a capital rotation into Bitcoin and the broader crypto market have increased. With just 7 days until the end of October, Bitcoin and the broader crypto market are expected to gain more bullish momentum, fueled by growing institutional demand.
Can BTC Price Reach a New ATH by Halloween 2025?
According to technical analysis, Bitcoin price has formed a market reversal trend following the recent capitulation.
⚠️ A BULLISH FLIP 🔥
That’s one hell of a crazy similarity…
🚨 BINANCE:BTCUSDT has an identical structure to the 2022/23 resistance reversal that resulted in a +80% rally, why do you think it’s over? 😳
We have to go higher 🚀 pic.twitter.com/jlPCEtfRCo
During the four-hour time frame, the BTC/USD pair formed a potential inverse head and shoulders pattern coupled with a bullish divergence in the relative strength index (RSI). As such, BTC price has a high chance of hitting a new all-time high by Halloween 2025, unless it consistently falls below the support level around $106.5k.
