Bitcoin Blasts Past $117K After Key Breakout
Bitcoin hits $117K after reclaiming $112K support, signaling momentum toward a new all-time high.
- Bitcoin breaks above crucial $112K resistance
- Quick retest confirms support before surge to $117K
- Momentum builds for new all-time highs in October
Bitcoin Surges Above $117K to Kick Off October
Bitcoin is starting the month with a bang, surging past the $117,000 mark after reclaiming a critical level at $112K. The breakout is being hailed by traders and analysts as a major bullish confirmation, with the price action now eyeing a fresh all-time high in the coming weeks.
After a strong close in September, Bitcoin showed textbook bullish behavior—breaking a key resistance, pulling back briefly to retest it as support, and then launching higher. This pattern has historically signaled the start of large upward moves.
Why the $112K Level Was So Important
The $112K resistance level had been a major barrier throughout September, capping Bitcoin’s price and creating uncertainty in the market. Breaking above it wasn’t just psychological—it was a strong technical breakout that attracted more buying volume and market confidence.
The successful retest of that zone added further validation, confirming it as new support. This gave traders the green light to re-enter long positions, fueling Bitcoin’s rapid move toward $117K and beyond.
Is a New All-Time High Next?
With momentum on its side, Bitcoin is now in price discovery mode, where no historical levels exist to cap the upside. If market sentiment stays bullish and macro conditions remain favorable, a new all-time high could be within reach this quarter.
Additional catalysts such as growing ETF interest, declining exchange reserves, and institutional inflows may continue to support this rally. October has often been a strong month for Bitcoin—and early price action suggests this time may be no different.
