Bitcoin extended its record-breaking rally over the weekend, climbing above $125,000 in thin Sunday trading, this time without much help from institutional investors. The following day, it smashed $126,000. With ETF inflows paused and key market figures like Michael Saylor signaling no new large-scale purchases, the latest move appears powered by non-institutional demand.

Unlike previous surges beyond $123,000, this rally has yet to trigger a significant pullback from major whale wallets, according to QCP’s latest market insights. That stability suggests large holders may have finished repositioning or are holding steady ahead of what some traders expect could be an October breakout.

Perpetual futures markets reflect that optimism. Funding rates remain elevated with 35% on Deribit and 29% on Hyperliquid, indicating aggressive long positioning. However, such leverage also raises the risk of a short-term flush, similar to the $3 billion liquidation event seen two weeks ago.

In the options market, traders have been forced to roll up positions, shifting their end-October call strikes to the $126K–$128K range, signaling growing confidence that BTC’s momentum will persist.

Despite skepticism about the week’s 12% surge absent a major catalyst, macro conditions appear supportive. Gold’s strength and the U.S. government shutdown have revived BTC’s safe-haven narrative, while exchange balances have dropped to six-year lows, reinforcing its scarcity appeal.

Whether this rally extends further will depend on whether institutional inflows after last week’s $3.2 billion ETF haul return to the market. For now, bitcoin’s latest leg higher looks retail-driven, resilient, and ready for a volatile October. On Monday afternoon, BTC spent a great deal of the day around the $125,000 range until the end of the day, when it surpassed $126,000.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。