Bitcoin Approaches $124.5K as Institutional Flows and Macro Trends Drive Strong October Start
Bitcoin (BTC) is closing in on a new all-time high above $124,500, capping a five-day rally that ranks among its strongest starts to October on record.
Having traded below $110,000 last weekend, BTC has gained nearly 15% this week, including a 3% rise over the past 24 hours, bringing its current price to around $123,300.
October has historically been favorable for Bitcoin, and 2025 appears no different, as bullish sentiment returns heading into the fourth quarter.
From July through September, Bitcoin largely remained range-bound, underperforming traditional assets such as stocks and gold, which consistently hit record highs. However, momentum has shifted as institutional flows and macroeconomic factors gain influence.
“This moment is unlike previous cycles,” said economist Noelle Acheson, author of the Crypto is Macro Now newsletter. She cited a mix of strong institutional participation and broader macroeconomic trends as driving the current rally.
“In earlier cycles, we didn’t see this level of sustained global debasement,” Acheson noted, referring to the erosion of fiat currency value across major economies. She also pointed to growing geopolitical uncertainty, which is encouraging a “gradual pivot away from the U.S. dollar toward global hard assets,” positioning Bitcoin as a key beneficiary.
While speculative interest remains part of crypto rallies, Acheson emphasized that this surge is underpinned by structural factors, suggesting it could have more staying power than the brief rallies seen in July and August.
“FOMO always plays a role in crypto,” she added. “But this wave of momentum is supported by both traditional and new forces, amplified by a growing pool of potential investors.”
