Bitcoin surged beyond $120,000 as of October 3, 2025, fueled by trader expectations for a short squeeze, significantly impacting Ethereum, Solana, and other major cryptocurrencies globally.
This surge is notable as it indicates a shift towards accumulation by major holders and reflects potential market volatility, influencing a broader cryptocurrency surge.
Bitcoin has surged past $120,000, marking its longest rally since March 2024. This surge leads to potential short squeeze situations, influenced by increased activity from major crypto holders.
The rally involves major cryptocurrencies as well. Ethereum and Solana also experienced significant gains, aligning with Bitcoin's upward move. On-chain data confirms major wallet accumulation, indicating increased market confidence.
Bitcoin Exceeds $120K: Longest Rally Since March 2024
Experts highlight that the market situation is ripe for a short squeeze. Cited data shows Bitcoin's price indexing at $120,937.61, indicating reduced seller pressure and strong bullish sentiment.
Historical patterns suggest a short squeeze could lead to amplified volatility and further gains. Such events have previously impacted other cryptocurrencies, creating ripple effects and liquidity movements in cryptocurrencies such as Ethereum and Solana.
Bitcoin Price at $120,937.61 Points to Short Squeeze
Bitcoin's past short squeeze events indicate potential for rapid price surges. In 2021, similar conditions led to notable increases in Bitcoin and other major tokens.
Experts from Kanalcoin suggest the current market dynamics point towards another potential rally in other large‑cap assets. Wallet accumulation trends and past data support this analysis, emphasizing substantial investor interest.
Analyst at CoinDesk, “The accumulation of Bitcoin among major holders is indicating a shift from distribution to accumulation, often signaling reduced sell pressure and potential for a short squeeze.”: CoinDesk Market Analysis