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Bitcoin price prediction has once again become the talk of the town, as it surged past $119,000 on Wednesday after a correction to $108,600 in the last week.
Market participants called it the “Uptober” effect, a term coined to capture the pattern of historic October gains. On Wednesday, the token rose 4.27% to $118,718, marking its highest single-day gain in several months.
Bitcoin surge. Source: CoinMarketCap
Investors shifted toward safe-haven assets, including gold, silver, and other commodities, after the US government shutdown, and this move also boosted Bitcoin, which many view as a protection against inflation.
Institutional accumulation has been another catalyst for Bitcoin’s growth. On Monday, Metaplanet added 5,268 BTC, valued at approximately $623 million, bringing its total holdings to 30,823 BTC. This purchase made the company the fourth-largest publicly traded holder of Bitcoin.
Along with this BTC price surge, the first-ever Bitcoin layer-2, Bitcoin Hyper (HYPER), is gaining serious traction as a high-potential altcoin play. The project has already raised $19.7 million, showing strong adoption from institutions and retail investors.
US Government Shutdown Adds Uncertainty and Shifts Investors’ Sentiment
On October 1, the U.S. Senate failed to pass a short-term spending bill after rejecting two bills the night before. This failure triggered a government shutdown, in which some but not all U.S. government services have come to a temporary halt.
The shutdown has added uncertainty around the key economic data releases, which were scheduled for Friday. Delays in job data could disrupt the outlook for the labour market and could affect the Fed’s meeting on interest rate decisions.
Despite being characterized as high-risk assets, the crypto market has experienced a strong rebound. The total crypto market cap has surged to $4.16 trillion, demonstrating strong capital inflow.
Metaplanet Strengthens Bitcoin Treasury With Over $600 Million Purchase
In a major move, Japanese investment company Metaplanet has acquired an additional 5,268 BTC tokens worth roughly $630 million.
This purchase made the company the fourth-largest corporate holder of Bitcoin. The tokens were purchased at an average price of $116,870 per coin.
The company began adding Bitcoin to its balance sheet in April 2024 and has aggressively scaled the accumulation, leaving behind other corporate Bitcoin holders. The company filing showed that the BTC yield peaked at nearly 309.8% in late 2024 and 33% this year.
Bitcoin Price Prediction: New All-time High Soon?
The Bitcoin price currently stands at $118,485, indicating a daily increase of 3.50% and a weekly surge of 6.14%. The upward momentum began after the token bounced strongly from $109,000 support zone and has since experienced a V-shaped recovery.
Bitcoin price chart. Image source: TradingView
While the momentum is solid, the accumulated supply zone around the $120,000 resistance serves as a barrier that needs to be cleared before Bitcoin achieves a new all-time high.
Technical indicators like the Relative Strength Index (RSI) and the MACD have turned bullish after the surge. RSI currently trades above the 62 mark while MACD has crossed the zero line into the positive region.
Earlier in a review, Shawn Young, chief analyst at MEXC Research, stated that if BTC can sustain the $117,000 support level, it will indicate that bullish momentum is in control, and the next targets could be $130,000–$135,000 before this cycle peaks.
Bitcoin Hyper: The Best Leveraged Play On Bitcoin
While Bitcoin has picked up momentum again, institutional capital is flowing to Bitcoin infrastructure projects, such as Bitcoin Hyper, which are focused on improving the blockchain’s capabilities.
Bitcoin Hyper is the first-ever layer-2 project addressing the bottlenecks of the Bitcoin ecosystem, such as slow speed and high cost, that prevent its ecosystem expansion.
The project is unlocking Bitcoin’s liquidity for DeFi, NFTs, meme coins, and tokenized RWAs, just like Solana and Ethereum, which have already seen their supercycles. Since it utilizes Solana Virtual Machine technology, developers with apps on Solana can easily port them over.
Why Bitcoin Hyper could be the biggest gainer this bull season:
- The project has already raised over $19.7 million and is available at just $0.013015 each
- Third-party audits from Coinsult and Spywolf
- Massive 60% staking rewards for investors
- Exchange listings are underway, so explosive growth opportunity
HYPER’s low entry price gives investors a strong chance to build on its growing network. Bitcoin Hyper is shaping up to be one of the most-watched crypto in 2025.
