Bitcoin surged past $123,000 this week following the Federal Reserve Chair Jerome Powell’s speech that avoided any direct comments on monetary policy. Market analysts interpret this as a positive sign, indicating the Fed remains flexible with its stance and potentially contributing to Bitcoin’s rally. CME FedWatch data points to a 94.6% probability of a 25-basis-point interest rate cut at the Fed’s October 29 meeting. This anticipation further fuels Bitcoin’s ascent, which has already surpassed $126,000 earlier this week. Powell’s restrained comments contrast with the growing optimism within the Federal Open Market Committee (FOMC). Recent minutes revealed a dovish shift, as several members now see room for multiple rate cuts by year-end. These expectations have bolstered risk appetite across markets, providing Bitcoin with renewed momentum after last week’s volatility.