bullish

TRUMP

Bitcoin

would

Key takeaways:
<ul>
 <li>Bitcoin’s price discovery reached its strongest weekly close at $123,400.</li>
 <li>Onchain metrics and futures data show sustained bullish control above $122,000.</li>
 <li>Short-term outlooks are split between a momentum grind higher or a mean reversion dip.</li>
</ul>
Bitcoin (<a href="/bitcoin-price" rel="noopener noreferrer">BTC</a>) achieved its strongest weekly close ever at $123,500 on Sunday, confirming its entry into a new phase of price discovery. As it consolidated near its all-time high (ATH) at $125,800, three key onchain and derivative metrics highlighted the health and sustainability of the bullish trend.
<figure>
 <img alt="Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Financial Derivatives, Bitcoin Futures, Price Analysis, Futures, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-10/0199b9d7-c9c6-7cd3-824a-4e5ef128abf7" title="">
 <figcaption style="text-align: center;">
 Bitcoin one-week chart. Source: <a href="https://www.tradingview.com/symbols/BTCUSDT/" rel="noopener noreferrer nofollow" target="_blank">Cointelegraph/TradingView</a>
 </figcaption>
</figure>
<h2 id="bulls-control-bitcoin-s-structural-momentum-near-123-000">Bulls control Bitcoin’s structural momentum near $123,000</h2>
Bitcoin’s structural momentum remains decisively bullish. Bitcoin researcher Axel Adler Jr. <a href="https://adlerscryptoinsights.substack.com/p/bitcoin-trends-w1-october-2025" rel="noopener noreferrer nofollow" target="_blank">noted</a> that BTC’s price remained pressed against the upper boundary of the 21-day “Donchian” channel ($125,200). At the same time, the structure shift composite stays elevated at +0.73, an indicator of buyer dominance and controlled pullbacks. The ongoing battle around the $125,000 ATH could determine whether the market extends higher or pauses for consolidation.
<figure>
 <img alt="Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Financial Derivatives, Bitcoin Futures, Price Analysis, Futures, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-10/0199b9d9-d37f-708f-aafd-2bfcd13cd5ef" title="">
 <figcaption style="text-align: center;">
 Bitcoin Structure and Donchain analysis. Source: Axel Adler Jr. 
 </figcaption>
</figure>
<h2 id="futures-flow-index-signals-bull-pressure">Futures flow index signals bull pressure</h2>
The Bitcoin futures flow index reading 96%, with price well above its 30-day fair value of $117,500, is a classic “bullish mode” signal. This setup often precedes a brief cooling or digestion phase as overheated futures activity stabilizes before continuation.
<figure>
 <img alt="Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Financial Derivatives, Bitcoin Futures, Price Analysis, Futures, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-10/0199b9db-b2ed-7f11-9b0e-406e0463a65d" title="">
 <figcaption style="text-align: center;">
 Bitcoin futures flow index. Source: Axel Adler Jr. 
 </figcaption>
</figure>
Lastly, the Profit/Loss Block score remained at a maximum reading of +3, showing that most UTXOs are in profit, a condition that sustained strong risk appetite and consistent dip-buying behavior.&nbsp;
Meanwhile, the short-term holder MVRV ratio is pressing toward its +1 band near $133,000, suggesting potential resistance as profit-taking pressure builds. Maintaining P/L momentum above the 90th percentile will be crucial to avoid divergence and trend fatigue.
<figure>
 <img alt="Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Financial Derivatives, Bitcoin Futures, Price Analysis, Futures, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-10/0199b9dc-c8cd-797e-909f-eef1aa0b2225" title="">
 <figcaption style="text-align: center;">
 Bitcoin short-term holders’ MVRV pricing bands. Source: Axel Adler Jr. 
 </figcaption>
</figure>
<a href="https://cointelegraph.com/news/btc-price-october-breakout-odds-low-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow">Related: BTC October price breakout odds low: 5 things to know in Bitcoin this week</a>
<h2 id="short-term-outlooks-a-momentum-grind-or-mean-reversion-for-btc">Short-term outlooks: A momentum grind or mean reversion for BTC?</h2>
Bitcoin’s short-term structure presented two distinct continuation scenarios following its record weekly close above $123,000.
The first scenario favored a momentum-based breakout, where “high prices stay higher.” In this case, Bitcoin could consolidate within a narrow range between $122,000 and $124,000, forming a high-timeframe base as volatility compresses.
Such behavior typically precedes gradual trend expansion, allowing the market to extend its price discovery phase through a slow grind toward fresh highs. Sustained high positioning would confirm this structure as a bullish continuation rather than a distribution.
<figure>
 <img alt="Cryptocurrencies, Bitcoin Price, Markets, Cryptocurrency Exchange, Financial Derivatives, Bitcoin Futures, Price Analysis, Futures, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-10/0199b9e3-87bf-774e-8f51-1f6996d22cd0" title="">
 <figcaption style="text-align: center;">
 Bitcoin short-term outlook scenarios. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
Alternatively, a mean reversion setup remained viable. This would involve a corrective retest toward key moving averages on the four-hour chart, the 50-, 100-, and 200-period exponential moving averages (EMAs) aligning with a liquidity pocket between $118,500 and $120,000.
A pullback into this zone would reset short-term leverage, rebuild demand, and maintain structural integrity as long as $118,000 is held as higher support.
Overall, the current market balance suggested consolidation within bullish strength. Whether through steady compression or a brief liquidity sweep, the broader trend bias remained upward unless momentum fractures below the mid-$118,000 region.
<a href="https://cointelegraph.com/news/bitcoin-crushing-memecoins-2025-can-doge-trump-rebound" rel="noopener noreferrer nofollow">Related: Bitcoin is crushing top memecoins in 2025: Can DOGE, TRUMP rebound in Q4?</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

3 Bitcoin charts bulls are watching after BTC’s weekly all-time high close

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