Why Is Bitcoin Price Going Up Today? (October 29, 2025)

Bitcoin’s price continued its upward momentum today, Wednesday, October 29, 2025, surging to a high of $116,200 during early trading hours. The world’s largest cryptocurrency gained over 11% from its monthly low as traders reacted to growing speculation of a Federal Reserve interest rate cut, weak U.S. consumer confidence data, and optimism surrounding Donald Trump’s upcoming meeting with Xi Jinping.

Although Bitcoin remains below its yearly high of $126,300, today’s move has sparked renewed excitement among traders and institutions alike. Let’s take a closer look at why Bitcoin’s price is going up today.

1. Rising Hopes for a Federal Reserve Rate Cut

The biggest catalyst behind today’s Bitcoin price rally is the increasing expectation that the Federal Reserve may soon cut interest rates.

The U.S. Consumer Price Index (CPI) report released last week revealed that inflation is cooling faster than expected. The headline CPI ticked up slightly to 3.0%, while the core CPI—which excludes food and energy—fell from 3.1% to 3.0%.

This indicates that inflation is under control, giving the Fed more room to ease monetary policy. Lower interest rates typically encourage investors to move away from traditional savings and bonds into riskier assets like stocks and cryptocurrencies, driving prices higher.

As a result, traders are increasingly betting on a Fed rate cut in the upcoming policy meeting, fueling today’s Bitcoin surge.

2. Weak Consumer Confidence Signals Potential Economic Easing

Bitcoin’s price also rose after the U.S. reported a drop in consumer confidence. The Consumer Confidence Index fell to 94.6 in October from 95.6 in September, reflecting growing concern among Americans about inflation and job stability.

When consumer confidence weakens, it often pressures the Federal Reserve to take supportive measures — such as lowering interest rates or injecting liquidity — to stimulate spending and growth.

This sentiment shift has strengthened the belief that a dovish Fed move is on the horizon, helping Bitcoin gain ground as investors hedge against potential economic uncertainty.

3. Corporate Layoffs Spark Safe-Haven Buying

In addition to soft macroeconomic data, widespread layoffs by major corporations like Amazon and UPS have heightened investor anxiety.

• Amazon announced plans to lay off 30,000 workers.

• UPS confirmed it would cut 14,000 jobs, bringing total yearly layoffs to around 48,000.
  

Large-scale job cuts typically signal that businesses are bracing for slower growth. As confidence in the labor market declines, investors often turn toward alternative stores of value — such as Bitcoin, gold, or Treasury bonds — as a hedge against market instability.

This trend has provided additional support to Bitcoin’s price, reinforcing its role as a digital safe-haven asset.

4. Optimism Around Trump–Xi Jinping Meeting

Another factor contributing to Bitcoin’s bullish momentum today is the anticipation of the upcoming meeting between former President Donald Trump and Chinese President Xi Jinping.

The two leaders are expected to discuss a potential trade agreement, which could reduce tensions between the U.S. and China — two of the world’s largest economies.

If the meeting results in a positive outcome, it could boost global market confidence and strengthen risk sentiment. Reduced geopolitical uncertainty typically benefits cryptocurrencies, as investors look for assets that can thrive amid shifting global trade and currency conditions.

Thus, optimism about this meeting is adding another layer of bullish sentiment to Bitcoin’s ongoing rally.

5. Spot Bitcoin ETFs See Strong Institutional Inflows

Another major reason why Bitcoin’s price is going up today is the increasing inflow into spot Bitcoin ETFs.

Recent data shows that existing spot Bitcoin funds attracted $149 million in inflows on Monday, following $90 million on Friday. These inflows suggest that institutional investors — including hedge funds and asset managers — are actively accumulating Bitcoin through regulated investment vehicles.

This institutional demand adds steady buying pressure, making the current rally more sustainable compared to past retail-driven surges.

As Bitcoin continues to gain legitimacy as a mainstream asset class, these ETF inflows could act as a strong foundation for future growth.

6. Technical Indicators Confirm a Bullish Setup

From a technical perspective, Bitcoin’s price structure supports continued bullish movement.

After bottoming near $103,575 earlier this month, Bitcoin has rebounded strongly and remains above its 50-day moving average, a positive indicator of trend momentum.

Moreover, the daily chart has formed a megaphone pattern — a technical formation consisting of two diverging trendlines, often signaling further price expansion.

If this pattern plays out, Bitcoin could soon test the psychological resistance level at $120,000. However, analysts caution that a dip below $110,000 could temporarily halt the bullish trend.

7. Overall Market Sentiment Turns Positive

The combination of easing inflation, weak consumer confidence, geopolitical optimism, and institutional buying has created a perfect storm for Bitcoin bulls.

Traders are increasingly viewing Bitcoin as both a risk-on and hedge asset — capable of benefiting from both economic easing and global uncertainty.

While volatility remains a constant feature of the crypto market, the current data-driven optimism points toward sustained strength in the near term.

Conclusion: Bitcoin’s Uptrend Reflects Growing Investor Confidence

In summary, Bitcoin’s price is going up today because of:

• Rising expectations of a Federal Reserve rate cut,

• Weak consumer confidence data hinting at economic support measures,

• Widespread layoffs signaling a weakening job market,

• Optimism surrounding the Trump–Xi Jinping trade talks, and

• Strong institutional inflows into spot Bitcoin ETFs.
  

All these factors combined have strengthened Bitcoin’s bullish outlook. If macroeconomic conditions continue to favor risk assets and institutional adoption remains strong, Bitcoin may soon challenge its next resistance level near $120,000.

FAQs: Why Is Bitcoin Price Rising Today?

1. Why did Bitcoin’s price increase today?
Bitcoin’s price rose today due to expectations of a Federal Reserve interest rate cut, weak consumer confidence, and optimism about the Trump–Xi Jinping meeting. Institutional inflows into Bitcoin ETFs and positive technical signals also contributed to the upward move.

2. How high did Bitcoin reach on October 29, 2025?
Bitcoin reached an intraday high of $116,200 on October 29, 2025, marking an 11% gain from its monthly low. This strong performance reflects renewed investor confidence amid global economic uncertainty.

3. Are spot Bitcoin ETFs affecting the market?
Yes. Spot Bitcoin ETFs have recorded significant inflows — over $149 million on Monday — showing that institutional investors are buying more Bitcoin. These inflows add long-term stability and upward momentum to the market.

4. How do layoffs and weak economic data affect Bitcoin’s price?
When major companies announce layoffs or consumer confidence weakens, investors seek safer or non-traditional assets. Bitcoin often benefits as a hedge against economic instability, leading to price increases during uncertain times.

5. What are Bitcoin’s next support and resistance levels?
Bitcoin’s immediate support level lies near $110,000, while the next resistance level is around $120,000. A breakout above $120,000 could open the door for further gains, while a drop below $110,000 might trigger a short-term correction.