Bitcoin Sees Strong Rebound, Setting Stage for Q4 Rally
Bitcoin has bounced back from its September lows, with prices climbing to $114,603. This 2.5% jump in 24 hours is backed by rising trading volumes and growing institutional interest. Analysts believe this could signal the start of a robust Q4 rally.
Some experts predict Bitcoin could reach new highs near $180,000. The cryptocurrency’s price is now just 7.7% below its August peak of $124,128. Daily trading volume surged by 70%, hitting $58.8 billion, indicating renewed investor enthusiasm.
Market analysts, like XWIN research Japan, notes that the federal Reserve’s interest rate cut weakened the U.S. dollar, benefiting Bitcoin as a digital choice.
Institutional demand is also on the rise. the SEC’s relaxed ETF listing rules have boosted confidence, leading to new products and steady inflows into major funds. These factors, combined with reduced selling from holders, suggest a stronger phase heading into Q4.
On-chain data supports this bullish outlook. Bitcoin’s market cap has grown from $870 billion to $1.07 trillion, driven by daily inflows of $385 million. Large wallets and miners are gradually building up,indicating an accumulation phase before a potential leg up.
Technical analysis shows strong support between $108,000 and $110,000. If resistance at $118,000 and $124,000 is cleared, a rally toward $150,000 to $180,000 by year-end is absolutely possible.
