Bitcoin price jumps over 3% to $111,596. What's fuelling the crypto rally today?

The price of Bitcoin, the global cryptocurrency market's benchmark digital asset, jumped more than 3% during Monday's trading session as the digital currency's rally was fuelled by the strong volumes and broader market momentum.

CoinMarketCap data collected on 20 October showed that Bitcoin prices jumped 3.66% during the intraday session to $111,596.30, when compared with $107,650 levels 24 hours ago. The crypto price rallied to its high level around Monday afternoon.

Even though Bitcoin prices have dropped 3.21% in the last seven-day period, the benchmark cryptocurrency's rally on Monday was fuelled by technical factors along with investors bet on a US Federal Reserve rate cut later this month, according to the crypto exchange data.

What are investors expecting?

CoinMarketCap's investor poll data showed that community investors in the exchange are maintaining their bullish momentum as the crypto recovers its earlier losses.

According to the data, 82% of the community investors on the exchange platform predict a ‘bullish’ sentiment for Bitcoin, while 18% of them expect that the digital asset will turn ‘bearish’ in the future term.

More than 5.1 million voted their stance on Bitcoin's price movement using the poll option on the crypto exchange's website. On the technical front, Bitcoin jumped above its $105,000 support level and their 200 day EMA mark.

According to a Bloomberg report on Monday, Japan's Financial Services Agency is looking to soon allow its commercial banks to invest in cryptocurrencies as the nation is looking to open up to digital assets.

Bitcoin Price Today

As of 7:22 PM on Monday, 20 October 2025, Bitcoin prices are trading 2.81% higher at $111,048.01, compared to their 24 hour ago market level of $107,520, according to Coinmarketcap data.

Bitcoin's market capitalisation (M-Cap) also recorded a 2.9% growth to $2.21 trillion, compared to their previous day levels. The crypto trading volumes showed that the benchmark crypto currency was heavily traded on Monday as volumes surged more than 50% in the last 24 hours to $58.31 billion.

Ethereum, another benchmark crypto token, was up 1.88% to $4,037.04, compared to $3,922.7 level one day ago.

Investing in digital asset's like cryptocurrencies are highly risky due to the rapid volatile nature of the crypto market. Hence, investors should be cautious and aware before making any concious investment decision.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.