Major Reasons Why Bitcoin Price Rallied Above $121K Today?

After having began the primary day of October 2025 in a bullish prospect, Bitcoin (BTC) prize prolonged in the course of the second day income. The flagship coin rose nearly 3% within the final 24 hours to succeed in a variety of greater than $ 121k.

As such, $ 135 million was liquidated from BTC merchants in leverage, with round $ 117 million with brief positions.

Essential the reason why Bitcoin prize has risen immediately

Rising Open Curiosity (OI)

In line with Coinglass market information evaluation, Bitcoin’s OI has returned in current days. On the time of the press, BTC’s OI floated round $ 86 billion, after he rose from $ 77 billion final week.

Traditionally, Bitcoin Worth has gathered at greater OI and vice versa.

Technical rugwind

Within the every day time frame, the BTC worth has been over a big resistance vary between $ 117k and $ 120k previously two days. After a exceptional rebound of the every day 100 advancing common easy (SMA), BTC worth has been damaged over a falling logarithmic resistance development previously two months.

In line with Crypto Analyst Benjamin Cowen, The BTC worth will proceed to gather the following three months and presumably earlier than the top of this yr.

Excessive institutional query

The demand for Bitcoin as a hedge towards inflation has remained excessive within the current previous. On Wednesday, the US Spot BTC ETF -Emitents registered a internet entry from money of round $ 675 million.

Within the meantime, Metaplanet has led firms to implement Bitcoin Treasury plans, after having introduced a purchase order of greater than 5K BTCs on Wednesday.

Macro -economic uncertainty

Bitcoin Worth has additionally benefited from the fixed macro -economic uncertainty, particularly after the closure of the US authorities and the escalating pressure between Russia and Ukraine.

Buyers have turned to a risk-on technique to cowl themselves towards Fiat inflation.

What are the interim expectations for BTC worth

Earlier on Thursday Citigroup lowered The Bitcoin race goal for the top of this yr from $ 135k to $ 133k. Nonetheless, the financial institution elevated its BTC race goal for 12 months to $ 181K.
Within the meantime, Jpmorgan Repeated that the Bitcoin worth is closely undervalued in relation to gold and has spent an interim goal of round $ 165k. Specifically, the gold worth has registered a brand new weekly of all time since mid -August 2025.