Bitcoin Rebounds Above $114,000 Amidst Optimism for October

By Hannah Pérez

Bitcoin bounced to USD $114,000 after several days of losses. Investor sentiment is shifting as October approaches, a historically bullish month for Bitcoin.

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• Crypto market shows recovery signals after extended correction.
• Bitcoin jumps above USD $114,000 and unleashes short millionaire settlements.
• More than USD $430 million in positions liquidated in teh last 24 hours.
• Market sentiment is changing to the expectation of an upward October.

Bitcoin (BTC), the world’s oldest and largest cryptocurrency, is experiencing a resurgence, according to CoinGecko.

The rebound, which began over the weekend and continued into Monday morning (ET), saw BTC momentarily reach USD $114,191, a gain of 3.5% in the last 24 hours.

Other major cryptocurrencies, such as Ethereum (ETH), XRP, Binance Coin (BNB), solana (SOL) and Cardano (ADA), followed the trend, registering increases between 2% and 4% in the same period. The total cryptocurrency market capitalization grew almost 3% in 24 hours, reaching USD $4 billion.

SHORT LIQUIDATION WAVE

This upward movement triggered a wave of liquidations in the cryptocurrency derivatives market, with a total of more than USD $430 million liquidated in the last 24 hours, according to data from Coinglass. Short positions (bear bets) represented the largest share, with approximately USD $320 million liquidated.

Some 107,468 individual traders saw their positions suddenly closed,with BTC and ETH being the most affected assets,with combined liquidations totaling USD $240 million,of which USD $217 million were from short positions. The largest single liquidation order was recorded on Hyperliquid for the ETH-US pair, valued at USD $26.02 million.

Macro Factors and Market Seasonality

The crypto market has shown signs of weakening sence last month, influenced by a complex macroeconomic context. Persistent inflation in the United States and uncertainty about the course of monetary policy have reduced risk appetite among investors. Last week, stronger economic data in the U.S. led traders to readjust their expectations of future cuts by the Federal reserve (Fed).

The U.S. central bank implemented a 25 basis point cut on September 17, but its president, Jerome Powell, has adopted a cautious approach, suggesting…

2025/09/29 17:44:06