Overview

• The price pushed past $125,000 during Asia trading, setting a new all-time high as short sellers saw roughly $200 million in positions liquidated over 24 hours.
• U.S.-listed spot bitcoin ETFs took in about $3.24 billion during the week ended Oct. 3, a wave of inflows that coincided with the breakout.
• Exchange-held supply has dropped to multi-year lows near 2.83 million BTC, with more than 114,000 BTC withdrawn in two weeks, signaling accumulation and tighter spot availability.
• Derivatives leverage is elevated with open interest near records, heightening liquidation risk; traders highlight resistance around $125,000–$126,000 and support near $117,000–$119,500.
• Macro uncertainty, including the U.S. government shutdown and a softer dollar, reinforced haven and risk-asset bids, as Standard Chartered projected a potential move toward $135,000.