The cryptocurrency market has surged sharply over the past 24 hours. Bitcoin (BTC) prices soared amid U.S. President Donald Trump’s pardon of Binance founder Changpeng “CZ” Zhao, along with a rally in Wall Street stocks, boosting overall market sentiment.

According to data from CoinMarketCap on Friday (October 24, 2025) at 06:16 AM WIB, the global crypto market capitalization jumped 2.83% in the last 24 hours to reach US$ 3.7 trillion.
Bitcoin (BTC), the world’s largest cryptocurrency by market cap, climbed 2.42% during the same period. Its current price stands at US$ 110,086 per coin, equivalent to Rp 1.82 billion using an exchange rate of Rp 16,600 per U.S. dollar.

Bitcoin’s all-time high (ATH) remains at US$ 126,223, recorded on October 7, 2025.

Other major cryptocurrencies also posted gains:

• Ethereum (ETH) rose 2.1% to US$ 3,854,

• Binance Coin (BNB) gained 5.31% to US$ 1,122,

• Solana (SOL) jumped 6.11% to US$ 190,

• Dogecoin (DOGE) increased 3.19% to US$ 0.19, and

• XRP advanced 1.83% to US$ 2.39.

According to CoinDesk, Bitcoin’s price movement exhibited a volatile whipsaw pattern, forcing investors to remain cautious as rapid rallies are often followed by sudden sell-offs.
Over the past 24 hours, BTC traded around US$ 110,000, just below its daily high of US$ 111,100, after a steep drop the day before that pushed prices below US$ 107,000.
Earlier this week, on Tuesday (October 21, 2025), Bitcoin briefly surged to US$ 114,000 before retreating.

Today’s crypto rally was largely driven by positive sentiment surrounding Trump’s pardon of CZ and the strengthening of Wall Street stocks ahead of the U.S. inflation data release for September.

Crypto-Related Stocks Also Rose

The digital asset rally also boosted crypto-linked equities.
Shares of Bitcoin miner Hut 8 (HUT) surged 7.3% after plunging 17% the previous day.
Meanwhile, Coinbase (COIN) and MicroStrategy (MSTR) shares each rose by about 2%.

This positive market sentiment aligned with a 1% increase in the Nasdaq index, fueled by optimism that U.S. crypto regulations would remain friendly following the pardon.

Investors are now awaiting the release of the U.S. Consumer Price Index (CPI) on Friday (October 24, 2025) — the final key indicator before next week’s Federal Reserve (The Fed) policy meeting.

The market expects The Fed to cut its benchmark interest rate by 25 basis points, with a potential additional cut in December.
A lower interest rate environment typically supports gains in risk assets, including cryptocurrencies.