Bitcoin (BTC) Price Jumps 10% in 24 Hours—Analysts Eye New All-Time High

Bitcoin just kicked off “Uptober” with a decisive breakout, rocketing past $116,000 after reclaiming the psychologically important $114,000 level late Monday. The sudden 4 % surge follows last week’s dip below $109,000 and aligns with a broader risk-on rebound in equities and commodities, hinting that macro tailwinds—not just crypto-native catalysts—are propelling BTC higher. Why traders are buzzing about BTC in October • Seasonality: Since 2013, Bitcoin has averaged a 22 % gain in October and 46 % in November. Those “Uptober” statistics make the current rally more than just a chart blip—they form the backbone of many bullish Q4 price forecasts. • Institutional bids: Order-book data show steady support above $110 K, suggesting large desks and ETFs are buying every dip, a dynamic that was absent during the choppy summer. • Macro relief: Falling Western bond yields and the prospect of no further Fed hikes reduce the opportunity cost of holding non-yielding assets like BTC. Fresh corporate demand: Metaplanet turbo-charges the treasury race Tokyo-listed investment firm Metaplanet announced a blockbuster purchase of 5,288 BTC in Q3, lifting its treasury stash to 30,823 BTC—now worth roughly $3.6 billion—vaulting the company into the global top-four corporate holders. The move echoes MicroStrategy’s playbook and reinforces the narrative that corporates see Bitcoin as a long-term balance-sheet hedge against fiat debasement. Key on-chain and derivatives signals to watch this month 1. Exchange balances: BTC held on exchanges sit near a three-year low, indicating investors prefer cold storage—often a precursor to supply squeezes. 2. CME futures open interest: Institutional exposure is climbing toward May’s record, underscoring Wall Street’s growing appetite for regulated Bitcoin products. 3. Options skew: A pronounced call-option bias shows traders are pricing greater odds of a push toward $120 K–$125 K before month-end. Potential headwinds • U.S. jobs data uncertainty: A delayed non-farm payrolls release due to a possible government shutdown could inject volatility. • Profit-taking near ATH: The $120 K region, last visited briefly in March, holds heavy unrealized profit; failure to clear it decisively may trigger a pullback to the $108 K–$110 K support band. BTC price outlook Analysts at multiple crypto-native desks project a base-case climb to $125 K this quarter, with upside extensions to $135 K if ETF inflows accelerate and macro conditions remain benign. Conversely, a weekly close below $108 K would negate the “Uptober” thesis and open the door to $96 K. Bottom line With bullish seasonality, revived institutional demand, and landmark corporate buys converging, Bitcoin’s latest breakout has solid footing. If historical patterns repeat, “Uptober” could set the stage for fresh all-time highs before year-end—keeping BTC firmly at the center of global investor attention.