The Bitcoin price has been traded near $118,500 on Thursday, October 2, 2025, as the US government’s decision to cut off tariff-cut opportunities made the dollar easier, and a visible short squeeze accelerated over the venue. This significant price movement has sparked interest in the cryptocurrency market, with many investors and analysts speculating about the potential for Bitcoin to reach new heights.
Gold has also reached a fresh record high of around $3,895 per ounce, as prices for the precious metal continue to rise. The dollar index has hovered close to 97.6, and the 10-year tip has been at 1.77 to 1.78 percent, which has reinforced the macro impulse that coincided with the move. Historically, these conditions have been based on a stronger performance in Bitcoin when real returns become lower.
Market Analysis
The leap of the day followed a reset of the positioning, which solved the lever effect by the end of September and remained sensitive to the macro headlines and river shocks. Last week, crypto liquidations of $1.7 billion were recorded, a cleaning that usually reduces one-way convexity until a new catalyst arrives. According to CoingGlass, liquidation heat maps in the zone of $118,000 to $120,000 showed a dense short bags before the break, and as soon as these clusters behavior for the continuation of the spot demand for passing.
Bitcoin is now only 4.8% from its all-time high. If the squeeze is continued, we could later see the price discovery in “Up Tober”. The financing of the most important eternal couples leaned slightly in the move, whereby Binance Perpetuals was printed by +0.0084 percent at the end of September, which supports a cool-positive backdrop that supports trend without flashing a short-term exhaustion signal.
Spot Market Trends
According to Farside investors, American Spot-Bitcoin ETFs recorded a renewed activity boost yesterday with a one-day net inflow of $645 million, part of a multi-day run that crossed $1.6 billion. If the daily net inflows for two sessions have been taken over around $500 million, the price has tended to add 3 to 7 percent in the following 72 hours in the last 2025 episodes, while two or more sessions of drains that are worse than $300 million were associated with softer adhesive tape and a tendency to negative agents.
The currents are the mechanical bridge between macro counting and executed orders, and on days on which the dollar slips and the real yields drift lower, ETF creations often carry this macro into the closure. The chain frame remained anchored traders who can pursue dealers without assumption. According to the last week of Glassnode, the short-term owner found that the price was near $111,000, which acts as a movable line in the sand for dynamics.
Macro Economic Factors
The striking of the US government, which began on October 1, complicated the data path to the Federal Reserve Meeting on October 29 and led the dealers to increase the likelihood of a 25-basis point as a protection against longer uncertainty. In this environment, the dollars slide towards the high-97 and in the real yields that are lower with a bid over gold and Bitcoin, a pairing that tends to reappear when the inflation-adjusted rates are more than growing.
The signal is less in the comment and more in the band, since Bitcoin’s largest stain canal is now the ETF complex, the macro switches to daily creations and withdrawal. The options delivered another lens on the short-term path. According to Deribit Open-Interest data, around $8 billion of Bitcoin options will expire on October 31, whereby concentration around round strikes of $120,000 and $125,000 is being built up.
Protection of dealers can determine the price in these neighborhoods when the network of netral netrals is, which explains why post-breakout tapes are often turned into strikes from a fresh impulse of ETF prints or macro bumps from the orbit. Weird and DVOL until the end of the month remain quickly whether today’s move to Premium is bleeding or stained.
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