Bitcoin Price Prediction: BTC Hits $114K as Traders Eye $120K Breakout; Uptober Rally Heats Up

Bitcoin trades at $114,423 with a daily volume of $62.2 billion, up 3.62% in the last 24 ￰0￱ world’s largest cryptocurrency has broken through key resistance levels, reigniting optimism for the long-awaited “Uptober” ￰1￱ suggest that this rebound could signal the beginning of a broader uptrend, driven by institutional accumulation and technical ￰2￱ Hopes Lift Sentiment Bitcoin’s surge above $114,000 came after a sharp two-day surge of 4.5%, reversing last week’s ￰3￱ attribute the earlier dip to leveraged long positions being unwound—a reset that often strengthens market foundations for future rallies. On-chain data indicates that more Bitcoin is leaving exchanges than arriving, a sign of accumulation and reduced selling ￰4￱ rates have also cooled, signaling a healthier backdrop for sustainable ￰5￱ hits $114K Uptober has not even started ￰6￱ — ₿adger (@BadgerDAO) September 29, 2025 Traders remain cautious about a CME gap near $111,300 that could drag prices lower before the next breakout, though historically these pullbacks have been ￰7￱ watchers say a decisive close above $115,000 would confirm bullish momentum heading into the final ￰8￱ outflows highlight investor ￰9￱ rates cooling signals less speculative ￰10￱ key breakout level is situated near $115,000.

Institutions Double Down Institutional conviction remains ￰11￱ Saylor’s Strategy Inc., the largest public holder of Bitcoin, added another 196 BTC worth $22.1 million at an average of $113,048 during last week’s ￰12￱ brings its total holdings to 640,031 BTC, valued at over $47 ￰13￱ IN: Strategy acquires 196 Bitcoin worth $22.1M, now holds 640,031 $BTC. pic. twitter. com/7ja6XWLdoL — Cointelegraph (@Cointelegraph) September 29, 2025 While Strategy’s stock (MSTR) fell to a six-month low of $300.7 amid Bitcoin’s volatility, its long-term performance remains extraordinary—up 96% in the past year and more than 2,000% over five ￰14￱ continues to champion Bitcoin’s role as a reserve asset, projecting stronger institutional adoption into ￰15￱ (BTC/USD) Technical Outlook Points Higher From a technical perspective, the BTC/USD has staged a breakout from a descending channel that capped prices through ￰16￱ rally cleared both the 50- and 100-period SMAs, with $114,000 now serving as near-term ￰17￱ move resembles a bullish flag breakout, often a continuation signal in rising ￰18￱ RSI has spiked to 83, signaling overbought conditions, yet this also underscores the strength behind the ￰19￱ bulls maintain control, the next targets are $116,150 and $117,850, with a potential push toward $120,000.

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