The Bitcoin price has shattered previous records by surging past $126,000, marking a new all-time high this 0 milestone has been attributed to the cyclical phenomenon known as “Uptober,” a term coined by analysts to describe October’s historical trend of strong price performance during Halving 1 Price Surge Linked To ‘Safe-Haven Demand’ The rise in Bitcoin and broader crypto prices coincided with the US government shutdown that commenced on October 2 has fueled greater demand for assets perceived as safe havens, as investors seek stability amidst growing political uncertainty in the United 3 contributing to the Bitcoin price surge, recent data from Bloomberg highlights that investors have injected approximately $3.2 billion into a group of 12 US Bitcoin exchange-traded funds (ETFs) in the past week alone.
Yet, analysts assert that the Bitcoin options market is increasingly influencing the cryptocurrency’s price movements, reflecting a potential shift in market behavior toward the leading 4 $150,000 Be Next? Rachael Lucas, an analyst at BTC Markets, notes that option traders are eyeing resistance levels at $135,000, with the possibility of reaching $150,000 if current momentum 5 options market currently displays a bullish sentiment, with over 60% of open interest concentrated in call options, signaling strong investor confidence. However, Lucas also raised concerns about the potential for liquidation cascades should momentum 6 to Bloomberg’s analysis, the Bitcoin price has averaged gains of approximately 22.5% over the past decade during Uptober 7 BTC follows similar patterns, it could reach a new high of $146,000 by the end of the 8 of press time, the Bitcoin price has slightly retraced back toward approximately $125,850, recording gains of 100% 9 image from DALL-E, chart from 10
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