Bitcoin gained momentum on Friday, rising another 1% as bulls pushed the cryptocurrency to the $120,000 mark for the first time since mid-August. The move has reignited optimism among traders that fresh all-time highs could be within reach before year-end.
Momentum returns to BTC
The world’s largest cryptocurrency has been recovering steadily after weeks of consolidation. Traders say the reclaiming of $120,000 is a critical psychological milestone, with bullish sentiment boosted by renewed inflows into spot Bitcoin exchange-traded funds (ETFs) and sustained institutional accumulation. Market participants note that long positions are rising, while derivatives data suggest confidence in further upside.
Macro backdrop supports rally
The rally comes against a backdrop of weaker US economic data, which has tempered expectations of further interest rate hikes by the Federal Reserve. A softer dollar and firm equity markets have added to Bitcoin’s appeal as a risk-on asset. Analysts also point to falling Treasury yields, which are making alternative investments like cryptocurrencies more attractive.
Traders eye all-time highs
Bitcoin last set its all-time high at just above $124,000 earlier this year, and many traders now expect that level to be tested and potentially surpassed. Technical analysts highlight $125,000 as the next resistance zone, while a decisive break could open the path toward $140,000. However, they caution that volatility remains high, with sharp pullbacks still possible.
Outlook for the months ahead
With institutional adoption accelerating and retail participation picking up, sentiment in the crypto sector is improving. Still, risks remain, including regulatory developments in the US and Europe and uncertainty around global liquidity conditions. For now, however, Bitcoin bulls appear firmly in control, with the market watching closely to see if the momentum can deliver new record highs.
Newshub Editorial in Global – 3 October 2025
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