bullish

According to a post by Ki Young Ju, founder and CEO of CryptoQuant, on the X platform, the continuous recovery of Bitcoin's hash rate is an "indirect bullish signal" from institutional investors. He pointed out that a higher hash rate means stronger security and better value storage fundamentals, and most publicly listed mining companies are supported by traditional financial institutions (TradFi). Therefore, the rise in hash rate can be seen as institutional recognition of Bitcoin's security and long-term value. Hash rate is an indicator of the computational power of a blockchain network, representing the number of hash calculations that can be completed per second.CryptoQuant data shows that Bitcoin's hash rate has rebounded by about 45% from its summer low, rising from approximately 726 EH/s in July to about 1,050 EH/s on Wednesday. However, the global hash rate is still below the peak of 1,305 EH/s set in October 2025, when Bitcoin's price was above $111,000. On Thursday, when the U.S. stock market opened, Bitcoin's price was approximately $81,843.Publicly listed mining companies are still expanding their production capacity. Nasdaq-listed NIP Group (NIPG) announced a third batch of asset purchase agreements, which will acquire approximately 4.47 EH/s of deployed Bitcoin mining machines. After the transaction is completed, the total hash rate from the three batches is expected to reach 13.85 EH/s. The company currently ranks 16th among publicly listed mining companies with an operational hash rate of 3.11 EH/s, while Bitdeer leads with 79.9 EH/s. On Wednesday, NIPG's stock price fell 6.8% to $6.1, down 86% over the past year; affected by higher-than-expected inflation data, U.S. stocks experienced the most severe sell-off since July, with TeraWulf, Core Scientific, Cipher Mining, and IREN all seeing stock prices drop by about 12%.

Renowned trader Killa reviewed the weekly trend of Bitcoin, pointing out that last week BTC rebounded 50% after falling from $87,000 to the $80,000 range. After the current weekly opening, the price surged on Monday but continued to face resistance, ultimately sweeping down to about $80,000, the low of the previous week.Currently, the market is mainly "hunting" for long positions, so there is a significant chance that it will start hunting for short positions next week. In the short term, it is crucial to closely monitor whether it sweeps the low of this week at $79,800 again; if it does, look for long opportunities.Killa provided a clear observation framework: if the price does not sweep the lows again, then focus should be on the $83,600 area. If it cannot break through this area, the market will continue to be in a surrender phase of range-bound fluctuations; if it can successfully reverse, then the market will break upwards. He expects that the weekly opening next week will push upwards, forcing late shorts who have recently chased the market to cover their positions. In the worst-case scenario for bulls, BTC could deviate downwards to the $76,000 to $78,000 range. The analyst also clearly stated that he does not believe an extreme situation of sweeping down to $74,000 will occur.

Trader Killa posted that the rise of Bitcoin does not necessarily align with logic; sometimes it is precisely because the market behaves irrationally.If market trends always followed logic and every fluctuation could be rationally explained, everyone would make money, but the Bitcoin market is not like that. Killa stated that he remains bullish on Bitcoin and holds a long position in BTC, and he will not close his position until the price reaches $126,000.

CryptoQuant founder Ki Young Ju posted on X that despite the market's attention on the adjustments to MSCI-related rules, Wall Street analysts remain generally bullish on Strategy. He noted that Citigroup, Barclays, and B. Riley have set target prices for MSTR at $240, $175, and $195 respectively, with an overall upward trend in target prices.He believes that the impact related to MSCI is primarily at the level of capital flow and has already been priced in by the market. He further stated that what is more noteworthy is that the market capitalization of Strategy compared to the net asset value of Bitcoin (mNAV) is about 1 times, the STRC price remains near par value, and the company holds $3.75 billion in reserve funds to cover dividend payments.

According to Bloomberg, the cryptocurrency market is experiencing a tug-of-war between bulls and bears, with analysts still leaning bullish, but the speculative market is shifting towards defense, putting pressure on risk appetite. Bitcoin briefly fell below $80,000 for the first time in nearly a month; affected by the sell-off in the U.S. stock market's AI sector, risk assets retreated, and the bullish sentiment that the cryptocurrency market was trying to rebuild was once again thwarted.Jeff Anderson, head of STS Digital in the U.S., stated that inflation data will "severely impact risk appetite," and the market is entering a quiet period before the Federal Reserve's interest rate meeting, with interest rate expectations still uncertain. Nick Forster, founder of Derive.xyz, mentioned that in the past 24 hours, the market's pricing of Bitcoin's probability of rising to $100,000 before Christmas has decreased by 2.8 percentage points to 9.7%; long-term bullish bets have quickly retreated, short-term hedging demand has surged, and institutions are reassessing macro risk exposure as the interest rate outlook becomes unclear again.

Cryptocurrency analyst Darkfost stated that there has been no substantial change in the technical assessment of Bitcoin. The fifth wave of the first wave has ended at the expected position, and the second wave adjustment may be coming next. This adjustment wave could drop to $74,600, corresponding to the usual 0.382 Fibonacci retracement level.Currently, Bitcoin has fallen below the 21-period EMA and is at the support level of the 50-period EMA, which is seen as a strong support; the 200-period EMA is around $75,800, leaving some space from the current price. The RSI has returned to the neutral level of 50, but the gap with the 14-period SMA has widened.Darkfost believes this indicates that a corrective rebound in wave B may occur before the final wave C arrives. He stated that there are currently no concerning signals, and the mid-term trend of Bitcoin remains positive.

Arthur Hayes stated on the X platform that he is uncertain whether AI-related assets will experience a significant drop and is unwilling to bet on their direction of rise or fall.He prefers to trade around the expected eventual multi-trillion dollar bailout and expresses a bullish stance on BTC and ETH.

According to Bitcoin Magazine, Lorenzo Valente, the Director of Digital Asset Research at Ark Invest, stated in a video interview with Bitcoin Magazine that despite Bitcoin's lackluster performance and even decline this year, Ark Invest has not changed its long-term view, still considering Bitcoin over a five-year cycle and believing its development is still in the early stages. He also introduced Ark's Big Ideas report and discussed Bitcoin's role as digital gold and a permissionless currency.Valente pointed out that the rise of stablecoins has changed Ark's judgment on the emerging market Bitcoin narrative. He also talked about the rise of tokenized stocks and real-world assets, as well as the functionalities that tokenized stocks can achieve that traditional brokerage accounts cannot.Additionally, he mentioned the impact of rising interest rates, inflation, and AI on Bitcoin's macro outlook, and explored which tokenized business models will ultimately prevail, as well as the possibility of tokenizing U.S. assets for offshore markets.Regarding the market outlook, Valente provided Ark's perspective on Bitcoin's future over the next 12 to 18 months and discussed the four-year cycle and key points to watch moving forward. Ark's Big Ideas report set a Bitcoin price target for 2030, and the reasons why institutional funds are still on the sidelines were also among the topics he discussed.

10x Research published that Bitcoin option prices have fallen to a five-year low, with near-month implied volatility at 33.5%, more than 4 percentage points lower than actual volatility, indicating that option pricing is relatively cheap. In the past week, the skew of Bitcoin options has decreased by nearly 3 percentage points, with traders focusing on buying put options expiring in October with strike prices of $78,000 and $80,000, with single large trades reaching up to $204 million.10x Research believes this indicates that investors overall still hold long positions while hedging downside risks through options, rather than fully turning bearish. In contrast, the Ethereum options market shows different signals. Its largest corporate buyer has indicated that it will stop buying in the coming weeks, with options trading primarily dominated by sellers of call options, and implied volatility higher than actual volatility.

Renowned trader Killa stated that buyers are absorbing selling pressure during the recent pullback, which resembles the pattern seen in a previous consolidation range, and there is very little support below the current price level. The market order wall shows a strong accumulation of buy orders just above the $80,000 level, and the buyers' conviction is strong; this price level is also an important psychological barrier for Bitcoin.Killa mentioned that if Bitcoin's weekly K-line closes above the previous week's low (around $82,600) this week, it would be a bullish signal, potentially indicating a typical return to the range after a stop-loss hunt. Killa, a quantitative trader focused on BTC, predicted the peak of this bull market in May 2025 and has over 200,000 followers on platform X. In mid-April, he shorted Bitcoin at $74,688 and switched to long during the market-wide decline on June 5.

Renowned trader Killa stated that Bitcoin has once again failed to break through $87,000, and the 10x leveraged long position he previously established has been stopped out at breakeven. This position was part of an aggressive trend continuation trade, originally expecting BTC to break through during the second test of the high, but after the failure to break, the price returned to the entry point.Killa mentioned that he will focus on the $80,000 to $82,000 range next, looking for opportunities to re-establish the 10x leveraged long position. Currently, he still holds long positions established at $62,600 and $76,400, and there is no reason to rush into adding new long positions. He emphasized that risk management is crucial, and his existing BTC holdings are sufficient. Regarding future trends, Killa maintains a bullish outlook, expecting prices to continue rising. He believes that the current market is in a short-term oscillation, while he primarily trades based on longer cycles.

Cryptocurrency analyst Darkfost stated that the Bitcoin Bull Score Index is currently still in a clearly bullish zone, with a current score of 80/100, and multiple indicators continue to support BTC's upward momentum. Darkfost pointed out that the only relatively lagging factor at the moment is spot demand.As observed earlier, the market's spot trading volume remains low, so there has not yet been a significant spot buying demand at this stage. He believes that spot demand is the missing key factor in the current BTC market trend, and this aspect is often the last to form.

A community user posted that Zhao Changpeng released the daily message "Every dip is an opportunity" on September 16, 2026, when the price of Bitcoin was approximately $75,800, and linked it to the recent BTC trend.In response, Zhao Changpeng stated that this is just "pure coincidence" and said, "I am right only slightly over 50% of the time because I have always been bullish."

NVIDIA's stock price reached a new high for the first time in four months, closing at $237.58 on Monday, with a market capitalization of approximately $5.76 trillion.Wedbush analyst Matt Bryson stated that the market finds it hard to ignore the disconnect between its growth prospects and valuation. Societe Generale analyst Karl Ackerman raised the target price to $345 per share, indicating a 45% upside potential.

David Hoffman, the founder of the crypto media Bankless, stated in a post on X that if Bitcoin's daily closing price surpasses 86,600 USD, it will release a strong signal; if it further surpasses 87,400 USD, it will be an extremely bullish signal.

According to Bitcoin Magazine, Bitcoin futures open interest has risen above $50 billion for the first time this year.David Lawant, Head of Research at Anchorage Digital, stated that this is not a warning signal of excessive leverage, but rather a reflection of market vitality, noting that the increase in spot trading volume and the thinning order book point to an early stage of recovery in the Bitcoin market.In his analysis, Lawant introduced the liquidity absorption ratio and explained how to identify shifts in Bitcoin market mechanisms. He mentioned the Bitcoin options market, which is approximately $60 billion in size, and the volatility curve, explaining why short-term Bitcoin volatility remains elevated through 2026, as well as what information options data can provide that prices themselves cannot reflect.He also shared Anchorage's experience with backtesting 37,000 covered call options and discussed how ETFs and treasury companies are changing the price discovery process for Bitcoin.

Renowned trader Killa posted that the current market trend is popular for comparing Bitcoin's movement with the pullback after the rebound to $25,000 in 2023, but there are significant differences in market structure between the two. In 2023, BTC only formed an equal high around $25,000 and failed to effectively close above that level, subsequently dropping quickly. In contrast, BTC has currently formed a higher high on the weekly level and is oscillating above the previous high after the breakout.Additionally, the maximum drawdown in the last bear market was about 77%, while this round is approximately 54%. Killa believes that if diminishing returns and the pullback amplitude gradually narrow are considered, the main correction in this bull market may be closer to 10% to 15%, corresponding to about $78,000 and $74,000, respectively. Killa stated that even if the price repeats a similar trend, it may not necessarily break below the previous low as clearly as in 2023. Currently, the open interest has been reset, and the price remains above the previous high, which he views as a relatively healthy market structure. He has not positioned for a significant pullback and still targets the $90,000 range.

Cryptocurrency analyst Ali posted on platform X, stating that ETH seems to be forming a bullish trend on lower time frames, as long as $2640 continues to act as a support level, this pattern remains tilted towards the bulls.Ali further pointed out that the current focus is on the $2700 level. If ETH closes above $2700 on an hourly basis, it may confirm an upward breakout and open up further space to test $3000.

Cryptocurrency exchange operators Bullish, Equiniti, Alpaca, Apex Fintech Solutions, and Drivewealth established the Issuer Sponsored Token Coalition on September 24, promoting a direct link between on-chain tokens and the official shareholder register of listed companies.The coalition aims to grant token holders voting rights, dividends, stock splits, and other corporate action rights, and will study the interoperability of technical standards, settlement, custody, and traditional market infrastructure with blockchain. Members plan to meet with listed company issuers at the New York Stock Exchange on October 27.

Cryptocurrency analyst Ali posted on platform X, stating that in the past five days, XRP whales have accumulated over 470 million XRP, worth approximately 724 million dollars.At the same time, the daily chart of XRP continues to form a "head and shoulders bottom" pattern, indicating that a bullish breakout may be approaching.