QCP Capital: Bitcoin’s October Rally Hinges On Institutional Participation And Macro Conditions
In Brief
Bitcoin is trading between price discovery and previous all-time highs, with its October rally’s continuation likely dependent on renewed institutional participation and broader macroeconomic conditions.
Singapore-based digital asset firm QCP Capital published an analysis noting that Bitcoin extended its record-breaking performance, surpassing $125,000 on Sunday despite thin weekend liquidity and limited institutional support.
With exchange-traded fund (ETF) inflows on pause over the weekend, the price movement highlighted strong non-institutional demand. Unlike previous attempts to break $123,000, there was no significant next-session selloff from large legacy wallets, indicating that major holders may have completed their asset rotations or are maintaining positions ahead of a potential October breakout.
Momentum remains elevated as leveraged traders continue to participate, with BTC perpetual funding rates reaching 35% on Deribit and 29% on Hyperliquid, signaling aggressive positioning. However, extended leverage increases the risk of sudden liquidations, as demonstrated two weeks ago when nearly $3 billion in long positions were wiped out, creating opportunities for institutional entry. In options markets, traders short on end-of-October calls have rolled strike prices higher to the $126,000–$128,000 range, reflecting growing market confidence in sustained momentum.
QCP Capital noted that the 12% surge in BTC over the past week may seem exaggerated to some, given the absence of major catalysts, yet several factors support the rally. Gold’s recent performance has reinforced Bitcoin’s appeal as a safe-haven asset, particularly following the US government shutdown last Wednesday. This event, coupled with historically bullish October seasonality, may have contributed to the upward move. Additionally, BTC reserves on centralized exchanges have dropped to six-year lows, strengthening the scarcity narrative and supporting demand.
Bitcoin Holds Near Record Highs Amid $3.2B ETF Inflows As Institutional Participation And Macro Factors Anticipated To Shape October Rally
The analysts noted that Bitcoin currently trades in a range between price discovery and previous all-time highs, with further upside likely dependent on renewed institutional participation. Following $3.2 billion in spot ETF inflows last week—the second-largest weekly total on record—market participants will monitor whether this momentum continues. Ultimately, the trajectory of Bitcoin’s October rally will be shaped by a combination of institutional flows and broader macroeconomic conditions.
At the time of reporting, Bitcoin is trading at $124,495, reflecting a 0.96% increase over the past 24 hours, according to CoinMarketCap. During this period, the cryptocurrency reached a low of $122,573 and a high of $124,870.
The total cryptocurrency market capitalization stands at $4.27 trillion, marking a 1.29% increase over the last day. Trading volume across all cryptocurrencies in the past 24 hours totaled $160.9 billion, representing a 10.90% decline. Bitcoin’s market dominance is currently 58.28%, slightly down by 0.04% over the same period.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
