Bitcoin value (BTC) climbed to a brand new all-time excessive in a single day, reaching about $125,700 throughout Sunday’s Asia session earlier than pulling again to the low $123,000 vary.
The rally prolonged an eight-day successful streak and got here as spot ETF inflows surged alongside a weaker US greenback amid renewed issues over a possible authorities shutdown.
The transfer surpassed Bitcoin’s earlier mid-August peak, marking one other milestone within the asset’s strongest run since early 2024. Worth motion turned unstable close to 12:45 a.m. ET, when BTC spiked to new highs earlier than slipping a couple of thousand {dollars}.
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A significant catalyst behind the transfer has been continued shopping for via US spot Bitcoin ETFs.
CoinGlass knowledge exhibits roughly $+985.10M in web inflows as of at present, the second-largest since their January launch, coinciding with Bitcoin’s climb to contemporary data.
(Supply: Coinglass)
On-chain knowledge assist the bullish setup: exchange-held BTC has dropped to round 2.83 million cash, the bottom stage in six years.
Analysts consider that the decline in obtainable provide can restrain promoting, which can assist the broader bearish commerce story as buyers hedge towards a weaker greenback.
Dealer Skew famous on X that the rally could be “bait” for overconfident longs, observing that “passive shorts” are constructing close to present highs, an indication that bearish bets are quietly stacking up regardless of the bullish headlines.
Within the brief time period, the query for Bitcoin is whether or not ETF inflows and macroeconomic tailwinds will be capable of maintain the breakout or if the market will warmth up into a brand new consolidation interval.
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Bitcoin Worth Prediction: Will Bitcoin’s $118K Help Maintain or Set off a Deeper Correction?
CoinGlass knowledge indicated that merchants have been gearing up for larger volatility, and liquidity was being sucked out throughout the order e-book.
(Supply: Coinglass)
Weekend buying and selling tends to magnify value actions because of thinner volumes, making current value swings much less dependable as indicators of long-term path.
Analyst CrypNuevo highlighted the 50-period EMA on the four-hour chart now sitting simply above $118,000 as a attainable short-term assist if Bitcoin’s pullback deepens.
For the week forward, I feel we may see a 4h50EMA retest – it is overextended and you may see the retests in earlier comparable Worth Motion.
After that, we must always see a brand new transfer up larger.
Subsequently, I am nonetheless favoring longs over shorts from the 4h50EMA. pic.twitter.com/gEqDGmLbA8
— CrypNuevo 🔨 (@CrypNuevo) October 5, 2025
That stage, he mentioned, may act as a “cooling zone” the place the market resets earlier than any new leg larger.
(Supply: X)
On the similar time, Rekt Capital identified that Bitcoin’s rejection close to $124,000 wasn’t uncommon.
#BTC
There’s ought to be no shock that Bitcoin has rejected from ~$124k on the primary time of asking on this uptrend
In any case, the final time Bitcoin rejected from $124k, the rejection preceded a -13% pullback
Bitcoin must show this $124k resistance is a weakening level… https://t.co/gcdXXQVyDv pic.twitter.com/GoXeBtyUlO
— Rekt Capital (@rektcapital) October 4, 2025
He famous that this stage served as resistance in previous cycles, as soon as resulting in a 13% drop.
The following few periods shall be vital. Merchants are watching whether or not BTC can stabilize above key assist or slide right into a deeper correction because the market cools.
(Supply: X)
Bitcoin has technically exited a declining channel that contained value motion since August.
It represents an analogous breakout that occurred earlier within the 12 months, characterised by a stable upward motion following a number of weeks of horizontal motion.
In a chart posted by Bitbull, there have been two parallel tracks, every with steep rallies. At roughly $124,700, he estimates that he can prolong to round $135,000-$140,000 within the close to future.
$BTC uptrend just isn’t over but.
There might be some corrections, however this is not the highest.
I feel BTC may rally in the direction of $135K-$140K this month and probably $160K by November earlier than a cycle prime. pic.twitter.com/VvxgGjad78
— BitBull (@AkaBull_) October 5, 2025
Bitbull even opined that the present cycle would attain a peak of as much as $160,000 by November, because the market had not but reached its most.
In one other evaluation by Daan Crypto, a transparent indicator of energy in Bitcoin on the weekly chart is the rebound of the Bull Market Help Band.
Following a couple of weeks of consolidating round that space, BTC shot up over $124,000, affirming a rejuvenation of the bigger uptrend. Prior to now, that band has often been the start of massive bull runs.
The analyst indicated that the rebound out of this zone reinforces the bullish building of Bitcoin.
(Supply: X)
With out shedding the assist band, he added, the pattern continues to be headed upwards so long as the patrons are in cost.
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