- Bitcoin reached 126K after trading below 110K for several weeks
- October gains followed a Fed rate cut and ETF market interest
- Market cap climbed to 2.5T with 350M in short liquidations
Bitcoin pushed through its summer ceiling and printed a fresh all-time high in early Sunday trading, capping a week that added more than ten thousand dollars from Monday to Friday. After nearly two months of consolidation that included several dips under $110,000, price action turned firm into October and delivered a decisive breakout. On Binance, the intraday top reached about $125,900, while major outlets recorded session highs in the $125,245 to $125,700 zone. The move followed an August peak near $124,480 and confirms a new record on multiple venues.
Bitcoin price sets new record after two-month consolidation
Price data show a clear sequence: a summer run to roughly $124,480 in mid-August, a corrective slide, and a range-bound phase through September that repeatedly tested the $110,000 area on the lows. That backdrop gave way to steady gains last week and a quiet Saturday that held between $121,000 and $122,000 before buyers pressed to new highs overnight. Reports on Sunday confirmed fresh records above $125,000, with one widely cited high near $125,245 and another near $125,700, while Binance’s tape printed ~$125,900 at the peak. This closes the chapter on the August record and resets the ceiling as the market enters October.
Fed cut, “Uptober,” and ETF flows steer Bitcoin’s rebound
Macro and flow catalysts aligned. The Federal Reserve cut its target rate by 25 basis points at the September meeting, the first reduction since late 2024, and signaled a cautious path to further easing, which supported risk assets and the dollar’s pullback. Seasonality also mattered, with the well-known “Uptober” pattern drawing attention as October began. At the same time, continued interest in spot and futures-linked crypto exchange-traded funds fed incremental demand. These forces helped convert a choppy September—peaking near $118,000 after the Fed decision—into an early October break above the summer top.
Market structure: liquidations, open interest, and weekend ranges
Derivatives positioning added fuel. As price pushed through prior resistance, aggregate forced unwinds accelerated, with approximately $350 million in twenty-four-hour liquidations reported across venues and shorts taking the larger share. The late-week climb also followed a period of tight weekend ranges around $121,000 to $122,000, where liquidity thinned and breakout risk rose. That narrow band set the stage for a swift extension once spot bids cleared the August high, forcing hedges to adjust and inviting momentum accounts back into the trend.
Bitcoin market cap in context of Amazon and silver
Market capitalization expanded sharply alongside price. Estimates place Bitcoin’s value around $2.45 trillion to $2.5 trillion at the highs, which pushes it above Amazon and leaves it close to silver in global asset rankings. Broader crypto also benefited, with total market value hovering near the $4.2 trillion mark on the session. The shift highlights how a single week of sustained gains can alter league-table standings and raise the threshold for any subsequent drawdown to threaten the new record.
Conclusion
Bitcoin cleared its August peak and logged a new all-time high above $125,000 after a two-month consolidation, confirming a break from September’s chop. The advance followed the Fed’s September rate cut, seasonal tailwinds tied to “Uptober,” and persistent ETF-related demand that steadied flows through the week. Liquidations amplified the move once resistance gave way, while weekend compression made the breakout travel faster. With market capitalization advancing toward roughly $2.5 trillion and broader crypto near $4.2 trillion, attention now turns to whether spot bids can defend prior highs and convert the range top into durable support.
Disclaimer
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