Bitcoin Hits $114,000, Market Eyes Possible $110K Pullback

The global cryptocurrency market opened the week on a strong note as Bitcoin surged to $114,000 during Wall Street’s trading session. Despite this impressive rally, traders are approaching the market with caution due to a newly formed CME futures gap at $110,000, which has sparked expectations of a potential price correction. Nevertheless, optimism remains high for a bullish “Uptober,” supported by gains in U.S. stock markets and record-breaking gold prices.

Market Overview

Bitcoin’s recent recovery has injected positive momentum into the broader crypto market, lifting key assets like Ethereum and Solana. However, market experts warn that Bitcoin’s rally could slow down if the CME gap is filled. The crypto sector also saw heightened volatility, with liquidations exceeding $400 million within 24 hours.

The surge in gold prices above $3,800 per ounce, combined with Wall Street’s green opening, has contributed to the optimistic outlook across digital assets. Analysts suggest that if Bitcoin manages to surpass the $115,000 mark this week, it could signal the beginning of a sustained uptrend through October.

Key points to note include:

• “Bitcoin bounces to $114K but traders eye a dip toward $110K due to CME gap.”
• “Crypto liquidations cross $400M in just 24 hours, signaling volatility.”
• “Uptober hopes alive as BTC may reclaim $115K for a confirmed uptrend.”
• “Global macro tailwinds: Wall Street rallies, gold at record highs.”

Top 5 Cryptocurrencies (Last 24 Hours):

• Bitcoin (BTC): $113,729 (+1.5%)
• Ethereum (ETH): $4,385 (+0.6%)
• Solana (SOL): $223.5 (+4.8%)
• XRP (XRP): $3.01 (+1.6%)
• BNB (BNB): $900.7 (+2.7%)

The market currently balances the risk of a short-term correction with long-term bullish prospects. Traders are closely monitoring the critical Bitcoin price levels of $110,000 and $115,000 in the coming days.