Bitcoin Poised for $131,000 as 'Uptober' and Halving Boost Bulls
Bitcoin is poised for significant gains, with analysts predicting a potential move towards $131,000 following a recent breakout from an inverse head-and-shoulders pattern. The cryptocurrency is currently trading near $122,000, nearing its all-time high of $124,000.
Historically, October has been a strong month for Bitcoin, a trend known as 'Uptober'. This, coupled with the upcoming halving event in April 2025, sets the stage for a potential bull run that could see Bitcoin reach $150,000-$180,000 by year-end. However, analysts warn of potential short-term risks due to high leverage in derivatives markets, with nearly $20 billion in Bitcoin longs at risk of liquidation if momentum stalls.
Institutional demand, led by Fidelity and BlackRock, is driving Bitcoin's rally. In early October 2025, US spot Bitcoin ETFs, including BlackRock's IBIT and Fidelity's FBTC, saw record inflows of over $3 billion per week, with BlackRock's IBIT alone accounting for more than half of these inflows. This strong ETF inflows, along with a potential retracement to $117,000-$118,000, could offer safer entry points before Bitcoin resumes its uptrend.
Analysts project Bitcoin's price to reach $181,000 in the next 12 months, driven by institutional demand and supported by strong ETF inflows. Despite short-term risks, the overall outlook for Bitcoin remains bullish, with the upcoming halving event and historical 'Uptober' trends suggesting further gains are on the horizon.
