Bitcoin surpassed the $120,000 mark late Thursday, a move that signaled the continuation of the bull run that began in September. After hitting a low of $114,000 on October 1, the largest digital asset in the world was very strong, as it almost immediately recovered and went back to trading near $118,900 before going over the $120K level.
The quick rally was a strong vote of confidence in the market because the rebound showed that Bitcoin was capable of handling the volatility of the market in the short term and attracting buyers at the dip. The price action reflects increased demand from both retail investors and institutions, which is a positive sign for market sentiment ahead of what traders usually consider a historically bullish month.
Bitcoin has been an average gainer in October since 2013, with the month recording a mean rise of 14.4%, thus making it a month of known seasonal strength. The trading community refers to this trend as “Uptober,” and the 2025 early signals seem to indicate that the trend will be repeated, which in turn will lead to a further rise in the price.
Source: TradingView
The broader crypto market mirrored Bitcoin’s strength.
This collective move lifted the global crypto market cap by 2% to $4.2 trillion, highlighting growing investor appetite for digital assets.
The rally was performed in defiance of the US government shutdown that has put more than 90% of SEC staff out of work and has decreased the CFTC operations.
“October has been a very lucky month for Bitcoin over the years, and the first signs of that are already visible this year,” Gadi Chait, Head of Investments at Xapo Bank, commented. “Momentum hasn’t been affected by the shutdown, which is a strong argument for Bitcoin’s continued resilience.”
Uptober is said by the experts to be often advantaged by the year-end portfolio rotation, the higher liquidity, and the increased volatility – all these things have been historically bullish for Bitcoin.
Desks of trading have been informed about very active trades of derivatives with volumes exceeding $120,000 while the spot volumes have also been improved. It is a signal of a market recovery that is more widespread than just speculative trading.
Uncertainty about regulation is still among the main worries and crypto ETFs approval might be delayed just as well as the progress of legislation in this area, including the CLARITY Act. Anyway, the shutdown, which means less control, can be a brake-free zone for the advocates of the new rules. After all, they do want clear rules – not less – just like now.
The very next stage for Bitcoin is to achieve and sustain $120,000 as a support level. Following the pattern of Uptober, the development of the bull run into year-end would not be surprising, and so would be the breaking of new records by price members
