Bitcoin bulls shrug off liquidity woes
Data from Cointelegraph Markets Pro and TradingView confirmed new local highs of $116,593 on Bitstamp.
After closing out September up 5.2% and Q3 6.3% higher, BTC/USD attracted fresh predictions of all-time highs next.
“The next major resistance is around $117,500, and if BTC reclaims that, it’ll rally towards a new ATH,” crypto analyst and entrepreneur Ted Pillows wrote in part of his latest X analysis.
Pillows noted key areas of liquidity on exchange order books, implying that these could just as easily force price downward as propel it higher.
$BTC has 2 decent liquidity clusters right now.
— Ted (@TedPillows) October 1, 2025
One around the $107,000-$108,000 level, which has $8 billion in long liquidations.
The other is around the $118,000-$119,000 level, which has $7 billion in short liquidations.
Which one do you think will happen first? pic.twitter.com/8dBuyQMoUj
The day prior, liquidity to the downside had caused trading resource TheKingfisher to warn of an impending market correction.
“Massive long liquidations building just below current price. This is fuel. Price often gets pulled to these zones. A lot of retail leverage is about to get flushed,” it told X followers.
As Cointelegraph continues to report, order‑book liquidity often results in “fakeouts” in either direction for Bitcoin, as large‑volume traders take advantage of other market participants.
Data from CoinGlass indicates that 24‑hour crypto short liquidations totaled $400 million at the time of writing.
Another day, another all-time high for gold
Bitcoin’s latest show of strength came in tandem with a repeat of all-time highs for gold.
Related: BTC price due for $108K ping pong: 5 things to know in Bitcoin this week
The precious metal, which is seeing a year of roaring gains, hit a fresh record of $3,895 per ounce.
Bitcoin traders have long demanded that the BTC/USD pair replicate gold’s performance. As Cointelegraph reported, one estimate this week called time on an eight‑week delay to that copycat move beginning.
Popular trader HTL‑NL uploaded a chart of Bitcoin priced in gold attempting to break through key long‑term resistance.
$BTC in gold. pic.twitter.com/XhVxMk655A
— HTL‑NL 🇳🇱 (@htltimor) October 1, 2025
Andre Dragosch, European head of research at crypto asset manager Bitwise, meanwhile, saw gold’s rally fizzling.
“FWIW - think the rally is long in the tooth now,” part of an X post argued, with Dragosch seeing “too much herding and group think in gold right now.”
“Could be the start for a risk on rally and rotation into bitcoin,” he concluded.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.