Bitcoin Soars Over $110K Despite ETF Exodus – Is a New Bull Run on the Horizon? 🤔💸

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Ah, Bitcoin, that ever-elusive creature of the crypto jungles, has once again decided to defy the laws of gravity. This past Monday, it gallivanted above the $110,000 mark, as if mocking last week’s dreary descent. Meanwhile, the U.S. spot bitcoin ETFs saw their second-largest weekly outflow ever-$1.2 billion. A minor inconvenience for our dear digital currency, one presumes. 🤑

As Bitcoin bounces back from a low near $103,700, traders are indulging in the classic game of “Will it stay or will it go?” Is this just a “controlled deleveraging,” or, as some might call it, a temporary waltz before the next massive advance? Oh, the suspense. Meanwhile, Ether has also dusted itself off and reclaimed $4,000, adding a bit of sparkle to the crypto world. But of course, who could ignore the sudden lull in trade-war headlines? Almost like someone flipped the switch to “Calm down.” And let’s not forget the growing whispers of possible Fed rate cuts. A little gift from the central bank, perhaps? 🎁

Short term, Bitcoin is trying its best to cling onto the $107,000-$110,000 support band like a cat clinging to a windowsill. Should it manage to vault over $112,000-$115,500, one might dare say it’s time to start eyeing $120,000-$123,000. We must always dream big, after all. 🏆

BTC Price Chart

Institutions Still Bullish; Rare BTC–Gold Signals Flash “Bottom”

Now, despite the outflows, those ever-so-sturdy institutions remain bullish. A recent Coinbase survey found that 67% of institutions believe Bitcoin is the future-or at least, the next three to six months. They credit improving liquidity, robust ETF infrastructure, and a spiking stablecoin usage that nearly set a record. Oh, and don’t forget the “macro tailwinds” that seem to nudge the market in the right direction. How delightful, right? 💨

What’s more, CryptoQuant’s Joao Wedson has identified rare “bottom” signals in the BTC-to-gold ratio oscillator. This, of course, is something that could lead to another delightful upward recovery. Let us all cross our fingers, shall we? 🤞

JP Morgan, too, has a rather bold prediction, valuing Bitcoin much higher than gold. In fact, they suggest that if this trend continues, Bitcoin could skyrocket to a $165,000 valuation by 2025. Yes, you read that correctly. This might just be the moment to break out the champagne. 🍾

Meanwhile, short-term holders are basking in the glow of “oversold” MVRV Bollinger signals, as seen earlier when Bitcoin was at $49,000 and $74,000-before it made those glorious rallies. It seems, my dear reader, that this recent dip was merely an accumulation phase, not a top. Yet again, the crypto universe teases us with its unpredictable ways. 😏

Bitcoin (BTC) Levels, Risks, and the Road to a New Leg Higher

From a technical perspective, Bitcoin bulls have one simple wish: protect that $107,000-$110,000 range and turn $112,000-$115,500 into solid support. Should it manage to sail past that, traders will have their eyes firmly set on $120,000-$123,000-and maybe, just maybe, revisit the all-time high zone near $126,000. 🧭

The risks? Well, funding and open interest have calmed down, which reduces the chances of another “forced liquidation” drama. But of course, the ever-present worries about rising wedges and headline risks (trade tensions, data shocks) remain. Don’t even get us started on the “digital-gold vs. gold” debate. Let’s keep that at bay for a while. ⚔️

Despite the ETF redemptions, Bitcoin’s bounce above $110,000 suggests strong dip-buying and increasing liquidity. If the macro environment remains cooperative, and if Bitcoin can continue its climb into the mid-$110,000s with decent volume, we may just witness the shift from a “reset” to a glorious re-accumulation. Who knows? Perhaps the market is gearing up for a fresh bull run into late 2025. 🌅

Cover image from ChatGPT, BTCUSD chart from Tradingview

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2025-10-21 03:14