Why is the crypto market up today?

The crypto market is going up today, October 25, as investors cheer the encouraging US inflation data, JPMorgan news, the upcoming Federal Reserve interest rate decision, and the Trump-Xi meeting on Thursday next ￰0￱ inflation data is boosting the crypto market today The crypto market is going up modestly today, with Bitcoin price rising to $111,650. Some of the top gainers were tokens like Virtuals Protocol , Humanity Protocol, Jupiter, Aerodrome Finance, Zcash, Kaspa, and ￰1￱ these tokens have jumped by over 5% in the last 24 hours and by double digits in the last 24 ￰2￱ main catalyst for the ongoing crypto market rally is that the US Bureau of Labor Statistics (BLS) published encouraging inflation data on ￰3￱ report showed that the headline Consumer Price Index (CPI) jumped to 3.0% in September from 2.9% in the previous ￰4￱ increase was lower than the median estimate of 3.1%.

Most notably, core inflation, which excludes the volatile food and energy prices, dropped to 3.0% from the previous 3.1%. These numbers boosted the stock and crypto markets by raising the odds that the Federal Reserve will cut interest rates in the upcoming meeting on ￰5￱ assets thrive when the Fed and other central banks are cutting ￰6￱ embrace of crypto The crypto market is going up after JPMorgan, the biggest American bank moved to embrace the ￰7￱ an announcement, it said that it will start accepting Bitcoin and Ethereum as ￰8￱ is notable since Jamie Dimon, the CEO, has a long history of bashing ￰9￱ 2021, he said that it was worthless and that it had no intrinsic ￰10￱ repeated that claim last year, noting that it was a pet rock that did ￰11￱ said: “My personal advice would be don’t get involved … but it’s a free ￰12￱ is the last time I’m ever going to state my opinion on Bitcoin.” Therefore, the bank’s change of tune on the industry is notable because of its ￰13￱ institutions have started to embrace Bitcoin this ￰14￱ most notable one is Vanguard, which is exploring ways to move to the ￰15￱ and Morgan Stanley have also embraced the ￰16￱ Trump and Xi Jinping meeting The crypo market is going up as investors focus on the upcoming meeting between Donald Trump and Xi Jinping at the APEC meeting in South ￰17￱ is an important meeting because of its role in the global ￰18￱ meeting seeks to reduce one of the top risks in the market as the two countries have announced major trade-related news ￰19￱ has threatened to cut off China from critical US software and boost tariffs.

China, on the other hand, has hinted that it will start limiting rare earth ￰20￱ has asked companies not to use Nvidia chips and placed new tariffs on US ships docking on the country. Therefore, the meeting will help to reduce the tensions, which will boost the stock and crypto ￰21￱ dead-cat bounce The other potential reason why the crypto market is going up is that this may be a dead-cat bounce. A DCB is a situation where a falling asset bounces back temporarily and then resumes the downward ￰22￱ situation is commonly known as a bull trap because it normally effects inexperienced traders.