Bitcoin (BTC)
price climbed 4% during Wednesday’s trading session, reaching $118,650 before
extending gains today (Thursday, 2 October 2025) to approach $120,000 on some
exchanges. The rally marks the strongest single-day performance since June,
with the cryptocurrency briefly touching session highs of $119,500 before
settling near $118,500.
The surge
comes as the U.S. government entered a shutdown, creating uncertainty in
traditional markets and prompting investors to seek alternative assets. Bitcoin
ETFs recorded substantial inflows of $429.96 million, led by BlackRock and
Fidelity, as shutdown fears triggered flight to digital assets.
I invite
you to a technical analysis of the BTC/USDT, ETH/USDT, XRP/USDT, and DOGE/USDT
charts, supported by my many years of experience as an analyst and, above all,
as an active investor. Together, we will answer the questions of why crypto is
going up today and how high the market can go.
From my technical
perspective, Bitcoin has cleared a crucial local resistance level around
$117,000, coinciding with September highs. This breakthrough opens the path
toward retesting July’s all-time highs, which served as significant resistance
during the summer months.
The
immediate targets now stand at $120,000, followed by $125,000 – the previous
all-time high established in August. Should momentum continue favoring digital
assets, the final quarter of 2025 could witness price discovery above
historical peaks.
Why Bitcoin price is going up today? Source: Tradingview.com
“With
BTC trading back at levels last seen in mid-July, the total market cap is once
again above $4 trillion,” Paul Howard, Director at Wincent commented exclusively
for FinanceMagnates.com. “We have seen a slow grind higher breaking above
$115,000, indicating we are now more likely to stay above this level, with a
CME gap to lock in the floor at $110,000.”
However, a
bearish reversal would require a decline below $100,000, which would transform
recent highs into support. Such a move would align with June lows and the 50%
Fibonacci retracement level. Bears would also need to overcome the 200-day
exponential moving average, which has provided continuous support for nearly
six months.
XRP Price Rallies
Alongside Bitcoin
XRP
followed Bitcoin’s trajectory, gaining 3.6% Wednesday and adding another 1%
Thursday to test $2.99. The token now faces a formidable resistance zone
reinforced by the psychologically significant $3.00 level and the 38.2%
Fibonacci retracement.
This
resistance area is further strengthened by a descending trendline drawn from
July peaks, which has been tested twice in September, each time triggering
sharper corrections toward the formation’s lower boundary near $2.73 – marked
by August and September lows.
Why XRP price is going up today? Source: Tradingview.com
According
to my XRP price prediction, a successful breakout above this resistance
confluence could propel XRP toward $3.12, followed by $3.33 if August highs are
surpassed, and ultimately to $3.55-$3.66 where summer peaks create final
resistance.
Conversely,
a bearish scenario would materialize with a drop below $2.60, where support
converges at the 61.8% Fibonacci retracement, horizontal levels from May highs,
and the 200-day moving average.
Related: Why XRP Is Going Up? XRP Price Predictions for October 2025 Suggest Surge Potential
Ethereum Follows And Extends
Gains
Ethereum (ETH)
price outpaced Bitcoin on Wednesday with a nearly 5% advance, adding another 1%
Thursday to reach session highs of $4,423. At press time, ETH changed hands at
$4,388, marking its highest level in approximately two weeks.
The
technical picture remains largely unchanged since August, with the
second-largest cryptocurrency consolidating between the round-number support at
$4,000 and resistance near $4,800. Wednesday’s breakout allowed Ethereum to
overcome both the 50-day exponential moving average and the 23.6% Fibonacci
retracement, clearing several local resistance levels.
Why Ethereum price is going up today? Source: Tradingview.com
This
development reopens the path toward testing September highs around $4,800.
Primary support sits at $4,400, with stronger backing at August lows near
$3,400, which coincides with the 200-day exponential moving average.
“Crypto
markets have entered autumn 2025 with renewed conviction. After a turbulent
start to the year – shaped by geopolitics, trade wars, and shifting macro
narratives – digital assets are showing signs of durable momentum,” Dovile
Silenskyte, Director of Digital Assets Research at WisdomTree, noted broader
market strength.
Dogecoin Leads Altcoin
Rally
Dogecoin
(DOGE) emerged as the standout performer among major cryptocurrencies, surging
7% Wednesday and 3% Thursday for combined gains exceeding 10%. The meme coin
reclaimed the local support zone established by August peaks, currently trading
near $0.26.
With this
recovery, Dogecoin has cleared a path toward testing July highs in the
$0.27-$0.29 range, which aligns with September peaks where the token briefly
approached $0.31. Primary support extends across a two-cent band between $0.22
and $0.20, encompassing the 200-day EMA and local lows from the
August-September transition.
Why Dogecoin price is going up today? Source: Tradingview.com
While a
breakdown below this level appears unlikely in the near term, such a move would
expose August lows around $0.19.
Market Drivers and Crypto
Price Outlook
The rally
reflects multiple catalysts, including potential Federal Reserve rate cuts
prompted by the shutdown’s impact on economic growth, alongside dollar weakness
as investors rotate toward safe-haven assets. I asked experts for their opinion
on this topic.
“Lately,
we have seen crypto increasingly correlated to macro. I believe we are now set
to see a sustained rally above $120,000 in the coming weeks. This will be
driven by DAT companies, ETFs, the macro picture of lower rates and looser regs,”
Howard added, emphasizing macro factors supporting continued strength.
Joel
Kruger, LMAX strategist, provided additional context for the current rally:
“Bitcoin spent September consolidating beneath its summer peak, with price
action choppy but ultimately resilient. It did not break to fresh highs, but
repeated defenses of support underlined strong underlying demand, aided by
ongoing ETF inflows and institutional allocations.”
Looking
ahead, Kruger highlighted favorable seasonal patterns: “The setup for
October and Q4 is historically favorable. Bitcoin has delivered positive
October returns in 10 of the past 12 years, and Q4 remains by far the strongest
seasonal stretch for the asset class.”
You may
also like my previous crypto analyses:
FAQ
Why is crypto rising now?
Cryptocurrency
markets are experiencing a rally driven by multiple factors. Bitcoin ETFs
recorded over $430 million in inflows as the U.S. government shutdown prompted
investors to seek alternative assets. The dollar’s weakness, potential Federal
Reserve rate cuts, and historically favorable October seasonality are
contributing to the surge. Additionally, strong institutional demand and
technical breakouts above key resistance levels have fueled momentum across
major digital assets.
Can crypto go 1000x?
While some
cryptocurrencies have achieved 1000x returns historically during early stages
or market cycles, such extreme gains are increasingly unlikely for established
assets like Bitcoin and Ethereum given their current market capitalizations
exceeding hundreds of billions of dollars. A 1000x return on Bitcoin from
current levels would require a market cap in the hundreds of trillions, far
exceeding global GDP. Smaller, emerging cryptocurrencies carry higher
risk-reward profiles but also substantially greater risk of total loss.
Can you make $100 a day
with crypto?
Generating
consistent daily profits from cryptocurrency trading depends on multiple
factors including capital size, market volatility, trading strategy, and risk
management. While theoretically possible, cryptocurrency markets are highly
volatile and unpredictable. Professional traders use sophisticated strategies,
but even they face losses. Daily trading requires significant expertise, time
commitment, and acceptance of substantial risk. Most investors adopt
longer-term strategies rather than attempting to generate specific daily
returns.
What crypto is going up
today?
Bitcoin led
Thursday’s rally, trading near $118,500 after approaching $120,000 on some
exchanges. Dogecoin emerged as the strongest performer with combined two-day
gains exceeding 10%, currently trading around $0.26. Ethereum added
approximately 6% over the same period, reaching $4,388. XRP gained roughly 4.6%
across Wednesday and Thursday, testing the $0.99 level. The broader
cryptocurrency market capitalization reclaimed $4 trillion as most major
digital assets posted gains.
Bitcoin (BTC)
price climbed 4% during Wednesday’s trading session, reaching $118,650 before
extending gains today (Thursday, 2 October 2025) to approach $120,000 on some
exchanges. The rally marks the strongest single-day performance since June,
with the cryptocurrency briefly touching session highs of $119,500 before
settling near $118,500.
The surge
comes as the U.S. government entered a shutdown, creating uncertainty in
traditional markets and prompting investors to seek alternative assets. Bitcoin
ETFs recorded substantial inflows of $429.96 million, led by BlackRock and
Fidelity, as shutdown fears triggered flight to digital assets.
I invite
you to a technical analysis of the BTC/USDT, ETH/USDT, XRP/USDT, and DOGE/USDT
charts, supported by my many years of experience as an analyst and, above all,
as an active investor. Together, we will answer the questions of why crypto is
going up today and how high the market can go.
From my technical
perspective, Bitcoin has cleared a crucial local resistance level around
$117,000, coinciding with September highs. This breakthrough opens the path
toward retesting July’s all-time highs, which served as significant resistance
during the summer months.
The
immediate targets now stand at $120,000, followed by $125,000 – the previous
all-time high established in August. Should momentum continue favoring digital
assets, the final quarter of 2025 could witness price discovery above
historical peaks.
Why Bitcoin price is going up today? Source: Tradingview.com
“With
BTC trading back at levels last seen in mid-July, the total market cap is once
again above $4 trillion,” Paul Howard, Director at Wincent commented exclusively
for FinanceMagnates.com. “We have seen a slow grind higher breaking above
$115,000, indicating we are now more likely to stay above this level, with a
CME gap to lock in the floor at $110,000.”
However, a
bearish reversal would require a decline below $100,000, which would transform
recent highs into support. Such a move would align with June lows and the 50%
Fibonacci retracement level. Bears would also need to overcome the 200-day
exponential moving average, which has provided continuous support for nearly
six months.
XRP Price Rallies
Alongside Bitcoin
XRP
followed Bitcoin’s trajectory, gaining 3.6% Wednesday and adding another 1%
Thursday to test $2.99. The token now faces a formidable resistance zone
reinforced by the psychologically significant $3.00 level and the 38.2%
Fibonacci retracement.
This
resistance area is further strengthened by a descending trendline drawn from
July peaks, which has been tested twice in September, each time triggering
sharper corrections toward the formation’s lower boundary near $2.73 – marked
by August and September lows.
Why XRP price is going up today? Source: Tradingview.com
According
to my XRP price prediction, a successful breakout above this resistance
confluence could propel XRP toward $3.12, followed by $3.33 if August highs are
surpassed, and ultimately to $3.55-$3.66 where summer peaks create final
resistance.
Conversely,
a bearish scenario would materialize with a drop below $2.60, where support
converges at the 61.8% Fibonacci retracement, horizontal levels from May highs,
and the 200-day moving average.
Related: Why XRP Is Going Up? XRP Price Predictions for October 2025 Suggest Surge Potential
Ethereum Follows And Extends
Gains
Ethereum (ETH)
price outpaced Bitcoin on Wednesday with a nearly 5% advance, adding another 1%
Thursday to reach session highs of $4,423. At press time, ETH changed hands at
$4,388, marking its highest level in approximately two weeks.
The
technical picture remains largely unchanged since August, with the
second-largest cryptocurrency consolidating between the round-number support at
$4,000 and resistance near $4,800. Wednesday’s breakout allowed Ethereum to
overcome both the 50-day exponential moving average and the 23.6% Fibonacci
retracement, clearing several local resistance levels.
Why Ethereum price is going up today? Source: Tradingview.com
This
development reopens the path toward testing September highs around $4,800.
Primary support sits at $4,400, with stronger backing at August lows near
$3,400, which coincides with the 200-day exponential moving average.
“Crypto
markets have entered autumn 2025 with renewed conviction. After a turbulent
start to the year – shaped by geopolitics, trade wars, and shifting macro
narratives – digital assets are showing signs of durable momentum,” Dovile
Silenskyte, Director of Digital Assets Research at WisdomTree, noted broader
market strength.
Dogecoin Leads Altcoin
Rally
Dogecoin
(DOGE) emerged as the standout performer among major cryptocurrencies, surging
7% Wednesday and 3% Thursday for combined gains exceeding 10%. The meme coin
reclaimed the local support zone established by August peaks, currently trading
near $0.26.
With this
recovery, Dogecoin has cleared a path toward testing July highs in the
$0.27-$0.29 range, which aligns with September peaks where the token briefly
approached $0.31. Primary support extends across a two-cent band between $0.22
and $0.20, encompassing the 200-day EMA and local lows from the
August-September transition.
Why Dogecoin price is going up today? Source: Tradingview.com
While a
breakdown below this level appears unlikely in the near term, such a move would
expose August lows around $0.19.
Market Drivers and Crypto
Price Outlook
The rally
reflects multiple catalysts, including potential Federal Reserve rate cuts
prompted by the shutdown’s impact on economic growth, alongside dollar weakness
as investors rotate toward safe-haven assets. I asked experts for their opinion
on this topic.
“Lately,
we have seen crypto increasingly correlated to macro. I believe we are now set
to see a sustained rally above $120,000 in the coming weeks. This will be
driven by DAT companies, ETFs, the macro picture of lower rates and looser regs,”
Howard added, emphasizing macro factors supporting continued strength.
Joel
Kruger, LMAX strategist, provided additional context for the current rally:
“Bitcoin spent September consolidating beneath its summer peak, with price
action choppy but ultimately resilient. It did not break to fresh highs, but
repeated defenses of support underlined strong underlying demand, aided by
ongoing ETF inflows and institutional allocations.”
Looking
ahead, Kruger highlighted favorable seasonal patterns: “The setup for
October and Q4 is historically favorable. Bitcoin has delivered positive
October returns in 10 of the past 12 years, and Q4 remains by far the strongest
seasonal stretch for the asset class.”
You may
also like my previous crypto analyses:
FAQ
Why is crypto rising now?
Cryptocurrency
markets are experiencing a rally driven by multiple factors. Bitcoin ETFs
recorded over $430 million in inflows as the U.S. government shutdown prompted
investors to seek alternative assets. The dollar’s weakness, potential Federal
Reserve rate cuts, and historically favorable October seasonality are
contributing to the surge. Additionally, strong institutional demand and
technical breakouts above key resistance levels have fueled momentum across
major digital assets.
Can crypto go 1000x?
While some
cryptocurrencies have achieved 1000x returns historically during early stages
or market cycles, such extreme gains are increasingly unlikely for established
assets like Bitcoin and Ethereum given their current market capitalizations
exceeding hundreds of billions of dollars. A 1000x return on Bitcoin from
current levels would require a market cap in the hundreds of trillions, far
exceeding global GDP. Smaller, emerging cryptocurrencies carry higher
risk-reward profiles but also substantially greater risk of total loss.
Can you make $100 a day
with crypto?
Generating
consistent daily profits from cryptocurrency trading depends on multiple
factors including capital size, market volatility, trading strategy, and risk
management. While theoretically possible, cryptocurrency markets are highly
volatile and unpredictable. Professional traders use sophisticated strategies,
but even they face losses. Daily trading requires significant expertise, time
commitment, and acceptance of substantial risk. Most investors adopt
longer-term strategies rather than attempting to generate specific daily
returns.
What crypto is going up
today?
Bitcoin led
Thursday’s rally, trading near $118,500 after approaching $120,000 on some
exchanges. Dogecoin emerged as the strongest performer with combined two-day
gains exceeding 10%, currently trading around $0.26. Ethereum added
approximately 6% over the same period, reaching $4,388. XRP gained roughly 4.6%
across Wednesday and Thursday, testing the $0.99 level. The broader
cryptocurrency market capitalization reclaimed $4 trillion as most major
digital assets posted gains.
