Bitcoin’s $110K Streak: October’s Secret Weapon? 💸

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Key Takeaways

Why is Bitcoin holding $110k important now?

It signals resilience, with Funding Rates at 0.006 and potential $301 million short liquidations on CEXs. Because nothing says “I’m tough” like a 0.006 funding rate. 🤷‍♀️

What’s next for BTC price action?

Reclaiming SMA200 at $113,691 could unlock $118,941 resistance, with upside paths targeting $120k-$140k by October. Because who doesn’t want to bet on a crypto fairy tale? 🧙‍♂️

After holding below $110k for two days, Bitcoin [BTC] successfully reclaimed it and jumped to $112k before slightly retracing. Because Bitcoin’s like a toddler-up, down, up, down. 🍼

At the time of writing, BTC was trading at $111,832, representing a 2.21% daily increase. On the weekly chart, it slipped 1.12%. So, it’s like a rollercoaster… but with more confusion. 🎢

Despite volatility, market sentiment appeared to stabilize. Because nothing says “stability” like a 50 on the Fear and Greed Index. 🤔

Market sentiment holds steady

Interestingly, while Bitcoin has recently faced challenging weeks, market participants are yet to turn overly bearish. Inasmuch as so, the Fear and Greed Index registered 50 at press time, signaling neutrality. Because 50 is the crypto version of “meh.” 🤷‍♀️

As such, most market influencers shared an optimistic view of the market in the coming days. Thus, social media posts emphasizing the need to defend $110k surged. Because nothing says “optimistic” like a tweet that’s 90% emojis. 📱💥

Crypto Rover shared one such post. He posited that Bitcoin must hold above $110k-$112k, which will set the market for an upswing. Because if it doesn’t, we’re all doomed. 🌪️

At the same time, others such as Trending Bitcoin also shared long-term projections, eyeing a rally between $160k-$170k. Because why not? Let’s just pretend we’re all millionaires. 💸

These social media posts indicate that Bitcoin will rebound if key support levels hold, with October resulting in more gains. Because October is the crypto version of “wait for it…” 🎯

Futures hint at a short squeeze

While influencers eyed rallies, Futures markets signaled recovery. BTC’s Funding Rates turned positive on the 29th of September after two negative sessions. Because even the market needs a pep talk. 💬

As of press time, the Funding Rate was 0.006, suggesting that investors’ long positions had recovered significantly. Because 0.006 is the new 100. 🎉

If the demand for longs holds, it will result in significant upward pressure on the BTC price. If it does, the short will get liquidated. Because short sellers are just waiting for their moment to cry. 😭

If BTC retests $113k, cumulative short liquidation intensity on major CEXs could reach $301 million, fueling momentum toward $120k. Because nothing says “momentum” like a $301 million liquidation. 💸

Buyers gain ground on CEXs

Even more importantly, investors on centralized exchanges (CEXs) had turned bullish. According to Axel Adler, Bitcoin’s 30-day Netflow remained negative at -170k BTC. Because negative netflow is the crypto equivalent of “we’re not selling, folks.” 🚫💸

This implied that 170k BTC had flowed out of exchanges compared to inflows. When outflows exceeded inflows, buyers dominated. Because if you’re not buying, you’re just a spectator. 🎬

Historically, negative Netflow aligned with reduced selling pressure, often preceding higher prices. Because sometimes, the market just needs a little rest. 🛌

Bitcoin price action – Key levels!

According to AMBCrypto’s analysis, BTC experienced a shift in sentiment, with bulls dominating the CEXs and Futures market. Because bulls are just the crypto version of “I’m here to win.” 🐂

Therefore, these market conditions position BTC in a favorable position for more gains in the days to come. It must first reclaim the 200-day SMA at $113,691 and the Bollinger Band at $114,003. Because nothing says “favorable” like a 200-day SMA. 📈

Breaking these levels would set up a test of $118,941, the Bollinger upper band. Sustained strength could push BTC toward $123,852. Because why stop at 120k when you can aim for the moon? 🌕

If October follows historical Q4 trends, BTC could target a new ATH, with $130k as a base and $140k as the bullish case. Because October is the crypto version of “let’s make it rain.” 🌧️

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2025-09-29 14:40