Bitcoin Surges Past $113,000, Recovering Nearly Half of October Losses

Bitcoin climbed above $112,000 over the weekend, trading at $113,724, marking the second time this week the asset has crossed the $113,000 threshold. The rally retraces approximately half the losses from the October 10 market crash that drove Bitcoin down to $103,000 by October 17. The weekly gain coincides with market expectations for a 0.25% interest rate reduction by the Federal Reserve at its October 29 meeting.