Bitcoin News Today: Institutions Bet Big on Bitcoin as October Bull Run Looms

Bitcoin (BTCUSD) remains in a consolidation phase near the $122,000 level, with technical indicators signaling a temporary pause in its bullish momentum following a sharp correction earlier this week. The cryptocurrency has stabilized after dropping over 2.5% from its recent peak of $126,223, with rising profit-taking pressure tempering investor enthusiasm. However, institutional demand and the broader "debasement trade" narrative continue to underpin the long-term uptrend as October-a historically bullish month for Bitcoin-approaches .

Key technical indicators reflect mixed signals. The Relative Strength Index (RSI) stands at 61, slightly above the neutral threshold, while stochastics hover in overbought territory, and the Moving Average Convergence Divergence (MACD) remains positive but flattening . This suggests a wait-and-see attitude among traders, with momentum cooling after a rapid rally. If Bitcoin closes below $122,000, it could face renewed downward pressure toward $120,000 and then $117,500, a level just above the 20-day simple moving average (SMA) . Conversely, a sustained rebound above $122,000 could reignite the rally toward the mid-August high of $124,480 and beyond .

The 50-day and 200-day EMAs remain well below current price levels, reinforcing the broader uptrend. However, the narrowing gap between the 9-day and 21-day EMAs indicates waning short-term momentum. Analysts at Swissblock note that the current consolidation above $120,000–$121,000 represents a "healthy cooling phase" and a precursor to renewed bullish momentum . Meanwhile, order book data highlights significant bid walls near $121,350, which could act as a buffer against further declines .

Institutional demand remains a critical factor. The Coinbase Premium Gap, a proxy for U.S. institutional buying, has surged to $94, reflecting strong demand from regulated platforms and ETFs . This aligns with Binance data showing net purchasing pressure exceeding $500 million in early October, with daily trading volumes reaching multi-month highs . Analysts attribute this to a combination of macroeconomic factors, including Fed rate cut expectations and the growing adoption of Bitcoin as a hedge against monetary debasement .

Short-term resistance is concentrated at $123,300, a level that has previously capped upward momentum. A confirmed breakout above this threshold could trigger a test of the $125,000–$126,000 range, with some analysts predicting a potential rally to $140,000–$150,000 by year-end . Conversely, failure to break through $125,000-warned by Ledn CIO John Glover as a potential bear market trigger-could lead to a retest of $117,000 and beyond .

The market's technical structure remains bullish but shows early signs of exhaustion. The RSI's pullback from overbought levels and the MACD's flattening histogram suggest that the current consolidation could precede a decisive move. Analysts at ecoinimist note that Bitcoin's price action above key support levels and institutional accumulation provide a strong foundation for further gains, provided it avoids a breakdown below $120,000 .

[1] FinanceFeeds (https://financefeeds.com/technical-analysis-bitcoin-consolidates-pullback-near-122000/)

[5] ecoinimist (https://ecoinimist.com/2025/10/08/bitcoin-price-consolidates-above-121-k/)

[7] FxLeaders (https://www.fxleaders.com/news/2025/10/09/bitcoin-stabilizes-above-122k-as-real-liquidity-surge-signals-path-to-new-highs/)

[9] Coindesk (https://www.coindesk.com/markets/2025/10/06/bitcoin-s-usd125k-resistance-analyst-warns-failure-could-bring-bear-market/)

[10] Coingabbar (https://www.coingabbar.com/en/price-prediction/bitcoin-price-prediction-october-rally-2025/)