Bitcoin has hit its highest price in two months by surging above $118,000 on early Thursday morning.

Notable Statistics:

• Coinglass data shows 106,691 traders were liquidated in the past 24 hours for $357.41 million.    

• SoSoValue data shows net inflows of $675.8 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $80.8 million.

Trader Notes: Daan Crypto Trades emphasized October’s historical strength but cautioned that seasonality should not be the sole basis for trading decisions.

Currently, Bitcoin is on a streak of six consecutive green Octobers, with the past six months aligning closely with average returns.

Trader XO noted BTC trading near the Value Area High around $119,000, aligning with the $120,000 five-week composite high, which acts as local resistance. A potential pullback into $114,000–$115,000 could offer a favorable long setup as part of a corrective rotation.

Crypto Bully observed Ethereum setting a local low near $3,900, with $4,300 as key resistance. Weak reactions at this level suggest bulls may regain control, presenting long opportunities.

Crypto chart analyst Ali Martinez highlighted XRP holding support at $2.80, leaving room for a potential rebound if the level remains intact.

For Solana, Martinez sees a bullish retest completed, targeting $320–$360 next.

Daan Crypto Trades noted Dogecoin maintained key support and formed a higher low, mirroring patterns in other majors. Continued higher lows and higher highs could pave the way for a larger upward move.

Read Next:

• Solana, XRP ETFs May Be Just The Start: Why You Need To Brace For The Crypto ETF Avalanche

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