Bitcoin Rebounds Above $113K After $1.5B Liquidations, MicroStrategy Adds 196 BTC

Bitcoin has recently reclaimed the $113,000 level after a significant selloff, buoyed by aggressive buying from large holders and institutional investors despite $1.5 billion in liquidations. Technical analysis highlights the importance of the $112,000 support level and suggests that a breakout above $113,500 could lead to further gains toward $118,000 and possibly retesting the August all-time high. Historically, October is a strong month for Bitcoin, averaging a 21.89% return, driven by seasonal trends, institutional flows, and positive market sentiment, which traders refer to as 'Uptober'. Current market conditions show Bitcoin holding key support levels, with potential for rallies if resistance zones are surpassed. Additionally, Bitcoin's price movements are increasingly influenced by macroeconomic factors, especially U.S. labor market data, which affect Federal Reserve policy expectations and thus impact Bitcoin via changes in the dollar and yields. Overall, the convergence of technical support, seasonal trends, institutional activity, and macroeconomic signals sets the stage for potential Bitcoin gains in the near term.