Bitcoin Flirts With $120K as Traders Anticipate 98.9% Fed Rate Cut in October | CoinDesk Daily

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4.7 • 698 Ratings

🗓️ 2 October 2025

⏱️ 2 minutes

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Summary

Can bitcoin cross $120K in this run? Bitcoin climbed higher on the back of a government shutdown and weaker-than-expected U.S. labor data. The largest crypto by market cap is flirting with the $120,000 level for the first time since mid August. This comes as the CME FedWatch predicts a 98.9% chance that the Fed will cut rates by 25 bps later this month. Will another cut boost BTC to a new high? CoinDesk’s Jennifer Sanasie hosts “CoinDesk Daily.” - Break the cycle of exploitation. Break down the barriers to truth. Break into the next generation of privacy. Break Free. Free to scroll without being monetized. Free from censorship. Freedom without fear. We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design. Break free with Midnight, visit midnight.network/break-free - Bridge simplifies global money movement. As the leading stablecoin issuance and orchestration platform, Bridge abstracts away blockchain complexity so businesses can seamlessly move between fiat and stablecoins. From payroll providers and remittance companies to neobanks and treasury teams, Bridge powers payments, savings, and stablecoin issuance for thousands – like Shopify, Metamask, Remitly, and more. URL: ⁠https://hubs.ly/Q03KGbRK0⁠ - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Transcript

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0:00.0	Crypto markets continue to rise and tokenization remains in the spotlight. You're watching
0:05.1	Coin Desk Daily. I'm your host, Jen Sanasi. Crypto markets are continuing their rise this week
0:16.3	amid a government shutdown and weaker than expected U.S. labor data. Bitcoin inched more than 2% higher
0:21.9	this morning, flirting with the $120,000 level that was last reached mid-August. This comes as
0:27.7	Polymarket betters anticipate a 90% chance that the Fed will cut rates by 25 basis points later this
0:33.9	month. The CME Fed Watch tool has the odds of such a rate cut even higher at 98.9%.
0:39.5	XYO co-founder Marcus Levin told CoinDesk that institutional flows and derivatives activity will play a
0:44.9	huge part in determining whether we are seeing new highs or a deeper retracement next.
0:50.0	But either way, we're entering one of Bitcoin's historically most dynamic months and traders
0:54.4	should buckle up for volatility.
0:56.5	Utility or privacy.
0:58.1	The transparency of traditional blockchains forces a difficult choice.
1:01.7	Break free from this limitation with midnight.
1:03.8	Just like the internet made information global, stable coins are making money global.
1:08.0	And Bridge, a stripe company company is powering that shift.
1:11.7	Bullish sentiment in Bitcoin has ripped across to ETF products as well.
1:15.9	Far side data shows that U.S. Bitcoin ETFs recorded their largest inflow since September 10th,
1:20.9	with $675.8 million.
1:23.9	BlackRock's I shares Bitcoin Trust took the majority, pocketing $405.5 million on the day,
1:29.2	according to Bloomberg's Eric Baltunas, the fresh inflows boosted Ibit to now rank among the top 20
1:34.6	ETFs by assets at $90.7 billion.
1:38.2	Baltunas noted that Ibit entering the top 10 ETFs by assets may not be far off, setting
	...

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