Bitcoin News Today: Will Bitcoin's Surge to $113k and Ethereum's Rise to $4k Withstand Market Fluctuations and Short-Seller Strategies?

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Bitget-RWA2025/10/26 11:58

By:Bitget-RWA

- Bitcoin surges past $113,000 and Ethereum breaks $4,000 amid easing ETF outflows and strategic short-covering by large players. - A high-profile short-covering event by a wallet linked to former BitForex CEO Garrett Jin highlights institutional influence on crypto volatility. - Ethereum’s rise is supported by the Pectra upgrade and expectations of a Fed rate cut, though ETF outflows remain a concern. - Bitcoin ETFs saw $210M inflows, reversing prior outflows, signaling potential altcoin rotation before y

Bitcoin Climbs Above $113,000,

Ethereum

Tops $4,000

Both Bitcoin and Ethereum have demonstrated renewed momentum in recent trading, with

BTC

surpassing $110,500 and ETH regaining the $4,000 mark. These advances are occurring as market conditions shift, including reduced

Bitcoin

ETF outflows, significant short-covering by major investors, and broader economic factors affecting risk sentiment. Market analysts and traders are monitoring whether these gains can be sustained amid ongoing volatility and global uncertainties.

According to Timothy Misir from BRN, Bitcoin's latest price movement is entering a "proof-of-conviction" stage as it challenges important resistance points. Despite a 3% drop over the last month, BTC has traded within a range of $107,200 to $109,500, while open interest in options has reached all-time highs, as reported by

The Block

. Increased demand for puts and concentrated short-gamma positions have heightened intraday price swings, raising the risk of sharp pullbacks if $113,000 is not revisited. Meanwhile, institutional buying appears to be stabilizing. SoSoValue data indicates that nine out of twelve U.S. Bitcoin ETFs saw inflows on Tuesday, with BlackRock's IBIT leading with $210 million in net additions, according to a

Bitcoinsistemi report

. This shift follows more than $1 billion in outflows the week before, hinting at an early rotation into alternative coins as the year progresses.

A significant event in the Bitcoin market involved a major short-covering move. A wallet reportedly associated with former BitForex CEO Garrett Jin—who denies any ties to the Trump family—closed a $227 million short on Hyperliquid, locking in $6.4 million in profits just before a 2% BTC rally, according to

Coinotag

. The trade, executed right before Bitcoin surged to $110,500, has attracted attention from analysts and blockchain watchers. This follows a similar short position by the same wallet prior to Trump's tariff threats, which triggered a $19 billion liquidation event in October. Such moves underscore the influential role of institutional players in driving short-term crypto price action.

Ethereum's move back above $4,000 has been driven by a broader appetite for risk and technical improvements to the network. The Pectra upgrade, which improved scalability and lowered transaction costs, has boosted on-chain activity, with daily gas usage steadying above 120 billion units, according to

TradingNews

. Expectations of a 25-basis-point rate cut by the Federal Reserve have also supported Ethereum's appeal. On-chain metrics reveal a 42% jump in ETH futures trading volume to $36 billion within 24 hours, signaling renewed speculative interest. However, outflows from Ethereum-related ETFs remain an issue, with $312 million in net redemptions last week.

Attention now shifts to upcoming macroeconomic releases, especially Friday's CPI data, which could reinforce the soft-landing narrative and impact Bitcoin's direction, as highlighted by The Block. A reading near 0.2% would likely favor further BTC gains, while a higher figure could prompt risk-off moves. For Ethereum, holding above $4,000 is crucial for maintaining its broader upward trend, with technical signals pointing to a possible rise toward $4,800–$5,000 if the 200-day EMA remains intact.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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