Bitcoin Poised for 'Uptober' Rally, Targets New All-Time High
Bitcoin (BTC) is poised for a strong October, historically a bullish month, with recent data showing potential gains of nearly 23% when September closes positively. The Bitcoin holding company Metaplanet has bolstered its holdings, purchasing 5,268 Bitcoins worth approximately 615 million USD on October 1, 2025, increasing its total to 30,823 Bitcoins valued at around 3.3 billion USD. This move follows the approval of several US spot Bitcoin ETFs since 2024, which have opened significant volumes and are expected to boost demand and drive a strong price rally.
BTC is currently testing local resistance levels and could surpass recent highs, driven by a combination of seasonal and macro factors. Institutional activity is returning, with ETFs and private holdings driving accumulation and reducing available supply, supporting upward pressure on BTC. A breakout from the symmetrical triangle could drive BTC higher, potentially targeting a new all-time high near $128,000, guided by Fibonacci extensions and previous resistance levels.
Bitcoin is experiencing a historically bullish period in October, often referred to as 'Uptober', with frequent strong gains. Market sentiment is boosted by dollar weakness, institutional inflows, and growing accumulation, signaling a potentially decisive month ahead for BTC. BTC is approaching the tip of a symmetrical triangle on its daily chart, with closing three consecutive daily candlesticks between $118,000 and $120,000 being a strong bullish signal. Despite being in a sideways channel since May, with $100,000 as a psychological lower boundary, current trends favor the bulls. Bitcoin is demonstrating strong bullish momentum, reclaiming above $117K, and is well-positioned to test the $120K resistance, with a potential breakout from the symmetrical triangle opening the path toward $128K. Additionally, BTC sits between two major liquidity clusters, at $107,000-$108,000 and $118,000-$119,000, which could act as magnets for price action and potentially push Bitcoin higher.
Bitcoin's strong performance in October, backed by historical trends and recent institutional activity, positions it for a potential new all-time high. As BTC approaches key resistance levels and liquidity clusters, investors eagerly await the outcome of this 'Uptober' rally, with a decisive month ahead for the cryptocurrency.
