Bitcoin News Update: Could Diplomacy Between Trump and Xi Along With Fed Rate Reductions Propel Bitcoin to $143,000?
Bitcoin Eyes $143,000 as Market Dynamics Shift Dramatically
Bitcoin (BTC) has broken above $113,000, with both investors and analysts anticipating a possible rally toward $143,000 as global economic and political factors evolve. Recent on-chain metrics show that Bitcoin’s total value locked (TVL) in decentralized finance (DeFi) platforms grew by $400 million from October 17 to 26, reflecting renewed confidence from long-term holders as more capital flows into
Expectations for the upcoming Trump-Xi Jinping summit in South Korea on October 30 are also fueling bullish sentiment, with the White House confirming that the meeting will prioritize reducing trade tensions, according to a
Institutional interest is also on the rise, with Bitcoin spot ETFs attracting $149 million in net inflows on October 28 alone, according to an
Other altcoins such as
The direction of the market will largely depend on the results of the Trump-Xi summit and the Fed’s policy decision. Should trade relations improve and rate cuts be implemented, Bitcoin could soon challenge the $116,000 resistance, with a breakout potentially paving the way for a move toward $120,000, FXStreet noted. For now, investors are weighing optimism against caution as global events and economic policies continue to influence the cryptocurrency sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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