Bitcoin (BTC) has started the fourth quarter of 2025 on a bullish note, with the flagship coin surging over 3% on the first day of October to reach a range high of slightly above $118k before retracing to trade at around $117,461 at press time. The wider altcoin market, led by Ethereum (ETH) and Solana (SOL), also followed suit, resulting in the total crypto market cap gaining 4% to hover around $4.1 trillion. However, nearly $588 million was rekt from the leveraged crypto market, with the majority involving short traders.
Top Reasons Why Bitcoin Price Gained Today
‘Uptober’ Bullish Sentiment
Historically, Bitcoin has recorded positive returns during the fourth quarter, with market data analysis showing that the BTC price has only ended in the red in four quarters since 2013. Additionally, BTC price has ended only two Octobers since 2013 with negative returns.
Gold Rush: High Institutional Demand
The Gold price has been hitting new all-time highs since mid-August, leading more institutional investors to use Bitcoin as a hedge against inflation. For example, Metaplanet recently announced the acquisition of 5,268 BTC valued at over $615 million, increasing its holdings to 30,823 BTCs.
Macroeconomic Tailwinds
Bitcoin price rallied in the past 24 hours, partially fueled by the shutdown of the United States government. Investors are gaining more confidence in Bitcoin over fiat currencies due to poor monetary policies and the endless printing of money.
Will BTC Price Hit New ATH in October?
Following today’s BTC price pump, the flagship coin retested a crucial supply wall established from mid-July to date. In the daily timeframe, BTC price rallied above the 100 Moving Average Simple (SMA), signaling a bullish outlook. The bullish outlook may have been confirmed after BTC price rallied above a falling logarithmic resistance trendline formed since mid-August.
Overall, Bitcoin’s price surge at the start of the fourth quarter of 2025 can be attributed to bullish sentiment, high institutional demand, and macroeconomic tailwinds. As the month progresses, all eyes will be on whether BTC price will hit a new all-time high in October.