Bull Run Back On? Bitcoin Hits New ATH of $126,080, Over $365M in Liquidations Recorded

Bitcoin has kicked off October with renewed momentum, breaking through to a fresh all-time high and dragging the wider crypto market along with it.

After spending most of September trading below $120,000, the world’s largest cryptocurrency has surged more than 10% in the first seven days of the month, reaching a record high of $126,080 on October 6.

This latest milestone has helped push total crypto asset market capitalization past $4.38 trillion, signaling a strong start to the final quarter of 2025.

Bitcoin surge and altcoin performance

At the time of writing, Bitcoin trades at $124,624, representing a modest 0.2% daily increase but an eye-catching $2.48 trillion market cap.

Ethereum has yet to retest its previous peak, though the second-largest cryptocurrency is showing notable momentum, up 13.4% over the past week and trading above $4,700.

BNB has been among the standout performers, gaining nearly 30% in the last seven days to sit at $1,314. Other large-cap tokens are also following the upward trajectory: Solana is up 11.2%, Dogecoin 14.1%, and XRP 4.7% over the same period.

The broad rally reflects increased confidence across crypto assets as Bitcoin’s climb to new highs pulls liquidity and attention back into the market.

Liquidations and market outlook

Despite the optimism, leveraged traders continue to face risks in these volatile conditions.

According to Coinglass, over 139,000 traders were liquidated in the past 24 hours, totaling $365.7 million. Interestingly, Ethereum accounted for the largest share at $87.5 million, while Bitcoin-related liquidations reached $75.1 million.

As for where the market heads next, analysts remain divided. Popular analyst on X MMCrypto pointed to the widely followed Bitcoin Pi Cycle Top indicator, noting that it remains “far away from flashing” a cycle high.

In his view, this suggests that the current bull run may still have months to run, with the possibility of new highs in the “hundreds of thousands” before a cycle peak is reached.

Others caution, however, that past performance is no guarantee of future results, and indicators can be challenged in new market environments.

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