Investors were spooked overnight, with the BTC price losing its $125k level, dropping from $126k to $ 124.4k, just three weeks out from the next FOMC meeting, where Powell is expected to cut interest rates by a further 25 basis points (bps).
According to CoinGlass data, all BTC ETFs were green yesterday (October 6), resulting in $220Mof positive inflows and marking six consecutive days of gains. Meanwhile, Michael Saylor’s Strategy (MSTR) share price closed the trading session up 2.2%.
With broader catalysts and market conditions all leaning positively for Bitcoin, the drop below $125k is likely just a healthy and normal profit-taking move after yet another all-time high, with $125k seen by many as a significant milestone before an inevitable push toward $125k.
Concerns for BTC Price as it Falters from All-Time High or is $150K Next?
Many believed that the US Government shutdown would cause a crash in the BTC price, but on the contrary, it has increased by +10% since, rising from $114k to $126k, and has set a new all-time high as a result.
Bitcoin dominance (BTC.d) remains high, currently at 58%, up 0.1% over the past week, as BTC
Bitcoin
1.29%
Bitcoin
BTC
Price
$64,231.88
1.29% /24h
Volume in 24h
$16.50B
Price 7d
Learn more
continues to reign supreme and puts a stop to any potential altcoin season for the time being.
After losing $125k, the BTC price appears poised to absorb the trapped liquidity between $119k and $ 120,500, with $119k also serving as a strong support zone. As long as Bitcoin holds above this level, a continuation is likely on the cards, with $130k the next target to breach.
However, if $119k doesn’t hold, a drop to around $113,000 becomes plausible. One potential bearish catalyst for Bitcoin and the broader cryptocurrency market could arise if the US Government shutdown leads to a delay in the FOMC meeting, slated for October 28.
The market has seemingly priced in another 25bps rate cut on this date, and any potential delay to the announcement could cause a sell-off across the crypto market, which would make a BTC price of $113k a real possibility.
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
Does Google Trends Show That Retail Hasn’t Even Arrived Yet?
Looking at Google Trends results for ‘Bitcoin’ searches since 2017 shows an interesting graph. It highlights that searches for Bitcoin this year haven’t even reached the peaks of 2024, let alone come close to those of 2017 or 2021.
Google Trend searches are a good indicator of when retail investors begin entering the crypto space, as evidenced by the sharp peaks at the height of the 2017 and 2021 bull markets.
The BTC price has reached four new highs in 2025 alone, leading many to believe that retail is driving the price of Bitcoin up. However, these highs have seemingly been driven by the likes of Saylor and his Strategy firm, Japan’s MetaPlanet, and Bitcoin ETFs, led by BlackRock.
This could mean that retail hasn’t even arrived yet, and as a result, Bitcoin has not yet finished its move to the upside for this cycle. If proven to be true, earlier calls from analysts and industry leaders such as CZ for $250k BTC become a real possibility.
BTC whales are now rotating their profits into Bitcoin Hyper (HYPER), a Layer-2 for Bitcoin that has seen $22.2M of investment, with multiple six-figure buys over the past week.
BONUS: Bitcoin Whales Are Bidding Bitcoin Hyper (HYPER) as BTC Beta Play
Bitcoin Hyper (HYPER) is quickly becoming the favourite beta play for BTC whales, the leading digital asset. It has raised over $22.2M to date, with many six-figure purchases in the past week, including one notable $380k buy from a seven-figure wallet funded by Kraken.
This has led to speculation that it could be Kraken itself buying HYPER with the intention to list it once the presale comes to a close. Whether Kraken or not, it is clear that whales have selected Bitcoin Hyper as the next big play as a beta to the bullish BTC price action.
HYPER effectively leverages the Solana Virtual Machine (SVM) for its Layer-2 protocol. By integrating its L2 infrastructure with Bitcoin, HYPER can benefit from Solana’s low fees and high speeds.
Bitcoin Hyper is developing its Layer-2 infrastructure using innovative roll-up technology. The team recently announced its plan to fully integrate the SVM as the execution layer for HYPER, alongside the use of rollups. This integration will enable fast transactions, low fees, and real-time execution, all while maintaining the reliability of Bitcoin’s core base layer.
With fewer than 36 hours remaining until the HYPER presale advances to its next price stage, act quickly before $0.013075 is gone for good.
For the latest updates on all things HYPER, join the community on Telegram and X, and to learn more, visit the Bitcoin Hyper website.
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