Uptober Kicks Off With $1.8B Futures Buy Volume on Binance — $130K BTC Breakout Ahead?
Bitcoin (BTC) is eyeing a breakout towards $130K as the beginning of “Uptober” has seen patrons on Binance outpace sellers by about $1.8 billion in futures quantity.
According to evaluation shared on X by CryptoQuant contributor Pelinay P.A., taker purchase quantity on Binance has dominated promote quantity all through the month.
Bitcoin Funding Rates on Binance Indicate a Potential Rally
“Overall, the setup stays bullish, detrimental funding suggests accumulation alternatives whereas sturdy spot demand underpins the rally’s sustainability.” – By @PelinayPA
Link
https://t.co/mJmLZJMVhX pic.twitter.com/OHXi1eJUGk
— CryptoQuant.com (@cryptoquant_com) October 2, 2025
“It’s a transparent signal that merchants are betting lengthy, they usually’re doing it onerous.”
The transfer comes as Bitcoin trades between $110,000 and $120,000, pushed extra by spot demand and long-term holders than by extreme leverage.
Binance Futures Funding Rates Stay Negative As Accumulation Signals a $130K BTC Breakout
Funding charges on Binance are both impartial or barely detrimental, which is uncommon.
Usually, when costs rise, funding charges go constructive as longs pile in.
But proper now, the market appears extra like a quiet accumulation than a speculative development.
And that’s precisely the sort of atmosphere that may result in sharp upward strikes when shopping for strain lastly breaks by way of resistance.
This setup units the stage for potential upward squeezes, with BTC set to check $120,000–$125,000 and presumably lengthen to the $130K stage.
Just a couple of days in the past, merchants have been watching a “gap” in CME Bitcoin futures that pointed to a potential dip again to $110K.
These gaps often get stuffed quick; the hit charge this 12 months was 100%, however this time, sellers couldn’t push onerous sufficient.
The hole stayed open, and Bitcoin stored its bullish momentum.
Current circumstances additionally align with the STH-MVRV pricing corridor, which tracks the profitability of short-term holders.
The higher boundary of this vary sits close to $130K, a stage the place profit-taking traditionally intensifies.
Bitcoin has stayed above its realized value since early 2024, which implies the broader development continues to be bullish.
Even if some short-term holders money out close to $130K, it doesn’t imply the rally is over.
Spot market indicators verify this energy.
On Coinbase, Bitcoin is buying and selling about $92 higher than on Binance.
That premium reveals sturdy demand from U.S. patrons, seemingly establishments, who’re prepared to pay extra to get in.
At the identical time, profit-taking hit $3.7 billion in a single day just lately, the fifth-highest this 12 months.
But even with that a lot promoting, the market absorbed it with out flipping bearish.
That’s a wholesome signal that there’s sufficient shopping for energy to deal with provide with out breaking the development.
Additional assist comes from US spot Bitcoin ETFs, which saw $600 million in inflows on Thursday alone, lifting the weekly whole to $2.25 billion.
On the derivatives aspect, Bitcoin Open Interest has climbed to a record $45.3 billion, the best stage of leverage ever recorded. With each spot and futures markets shifting in sync, upward strain is mounting towards the $130K breakout.
Bitcoin Open Interest simply hit a brand new all-time high: $45.3B
That’s the best stage of leverage the market has EVER seen. pic.twitter.com/8hNP29vLkf
— Maartunn (@JA_Maartun) October 3, 2025
In parallel, IBIT choices tied to BlackRock’s spot ETF are experiencing speedy development.
Bloomberg analyst Eric Balchunas added that IBIT choices now outpace futures in open curiosity, underscoring Wall Street’s rising function in Bitcoin value discovery.
Technical Analysis: RSI on the 4-Hour Chart Targets $130K BTC Breakout
Technical indicators additional again the bullish case.
Bitcoin’s RSI sits at 69, comfortably beneath overbought ranges, whereas Coinglass data reveals not one of the 30 peak-cycle indicators have been triggered.
The market additionally bounced firmly from the 21-week EMA, a key assist, gaining greater than 10% and shutting in on the $124K vary.
On the 4-hour chart, Bitcoin is testing the $120K stage following a powerful rebound from the $108K–$110K assist zone.
The $115K area has flipped from resistance to assist, giving bulls a stronger base.
Immediate upside targets lie at $126,500, the place trendline and horizontal resistance converge, with a potential extension to $132,000 if momentum holds.
Volume helps this view, exhibiting sturdy shopping for exercise.
Failure to take care of $120K might immediate a retest of the $114K–$115K space, however the broader construction stays bullish.
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