За пределами $123 000: оптимизм и предостережения на рынке биткоина Translation: Beyond $123,000: Optimism and Warnings in the Bitcoin Market

On the evening of October 3, the leading cryptocurrency surpassed $123,000, and Ethereum crossed the $4,500 mark.

At the time of writing, the digital gold adjusted to $122,800. Over the week, the asset gained nearly 10%.

In the past 24 hours, the liquidation volume in the market reached $554 million, with $358 million attributed to short positions.

Other cryptocurrencies in the top ten by market cap reacted cautiously to the flagship’s rise, with BNB being the sole exception as it set a new all-time high.

The market continues to be fueled by the positive sentiment surrounding the U.S. government shutdown. The momentum is further supported by the Uptober narrative, stable funding rates, and inflows into exchange-traded funds. Nevertheless, some market participants express concerns about a potential pullback.

A trader known as BitBull remarked that the current rise signifies the beginning of a fourth-quarter rally.

“However, don’t assume we’ll only move upwards. In the next week or two, Bitcoin and altcoins will face a significant reduction in leverage,” he cautioned.

According to the expert, this will prompt people to sell their coins, believing that Uptober is over. Subsequently, the market is expected to rise to new peaks again.

User Roman asked how long the leading cryptocurrency can ignore “bearish divergences and the lack of momentum on weekly and monthly charts.”

He pointed out that the RSI remains in the overbought zone, intensifying expectations of a price cooling on small timeframes.

“The trading volume also indicates a lack of strength. When these factors come into play is only a matter of time. Be cautious when holding positions,” warned Roman.

It’s worth noting that analysts from CryptoQuant identified the conditions necessary for Bitcoin to rise to $200,000.