JPMorgan Allows Clients To Use BTC and ETH as Collateral for Loans, Bitcoin Price Looks Ready to Retest $116K

JPMorgan has come a long way in adopting mainstream cryptos since it started allowing certain clients to collateralize loans in Bitcoin (BTC) and Ethereum (ETH). This move is the latest signal of growing acceptance of digital currencies as real financial products by prominent institutions.

The action is taken at a time when sentiment for Bitcoin in the market is growing as traders eagerly await BTC to scale the $116,000 level in the near term. The cryptocurrency space has been driven by shifting macroeconomic metrics this week. The coming U.S. inflation reading will also directly influence Bitcoin’s next move.

If CPI prints below 3%, expectations for a Federal Reserve rate reduction will immediately rise—further stimulating Bitcoin’s use as a hedge against dollar weakness. Any hotter-than-expected inflation print, however, could build short-term profit-taking prior to the next upleg.

BTC Price Action and Market Outlook

Bitcoin has increased 2.02% in the past 24 hours to $111,007, taking its market capitalization to $2.21 trillion. Volume is lower by 24.96% at $52.44 billion, reflecting investors’ caution since volatility continues to be elevated.

Technically, the recent bounce of BTC from the $108,000 levels equivalent to the 78.6% Fibonacci retracement and 200-day moving average has been a source of confidence. The RSI is neutral while the MACD indicates reversal.

Institutional Flows Fuel Confidence

Spot Bitcoin ETFs have attracted over $226 million in inflows this week. BlackRock’s IBIT fund is custodian for 739,000 BTC now worth over $82 billion. This consistent buying, coupled with whales holding their ground, indicates tightening supply momentum.

ETF buying is 30:1 ahead of daily mining production from Bitcoin, indicating mounting institutional faith in the face of a temporary pullback in liquidity.

Everyone is waiting to observe what happens at the Federal Reserve meeting on October 30, which could determine whether Bitcoin sustains its surge towards $116,000 or coasts on a breather to consolidate.

Remittix Builds Momentum with Major Milestones

Even though Bitcoin is all over the news, Remittix (RTX) is still the market leader in DeFi. The project has sold over 681 million tokens at a price of $0.1166 and has raised over $27.7 million.

Remittix also announced its first CEX listing on BitMart, with LBANK as its second exchange partner to be confirmed increasing availability and liquidity for early holders.

Additionally, Remittix is now fully audited by CertiK, ranking #1 for pre-launch tokens on the platform’s leaderboard for blockchain security. The audit builds trust and transparency in the project as it enters its next growth phase.

Remittix has rolled out its referral program, giving users a 15% USDT bonus for every referred buyer, redeemable daily via its dashboard. With its verification, exchange listings in motion, and wallet beta already tested, Remittix is positioning itself as one of the most promising emerging tokens in the crypto space.

Discover the future of PayFi with Remittix by checking out their project here:

Website : https://remittix.io/

Socials: https://linktr.ee/remittix

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