Overview

• Bitcoin traded near $123,000 on Friday, within roughly 1% of its mid‑August peak, after a five‑day climb to start October.
• U.S. spot Bitcoin ETFs logged about $627 million of net inflows on Oct. 2, extending a multi‑day streak and helping lift weekly totals reported by trackers to roughly $2.2–$2.3 billion.
• JPMorgan raised its year‑end Bitcoin target to $165,000, Citi outlined $132,000 for year‑end and $181,000 over 12 months, and Standard Chartered flagged a near‑term move toward $135,000.
• Derivatives data showed elevated open interest and hundreds of millions of dollars in short liquidations over 24 hours, reinforcing squeeze risk as price tests resistance.
• Traders pointed to the U.S. government shutdown and high odds of additional Federal Reserve rate cuts as tailwinds, with gold also advancing to fresh highs.