Bitcoin Breaks $120K as “Uptober” Momentum Fuels Crypto’s $400 Billion Weekly Surge

Key Takeaways

• Bitcoin surged to $120,027, up 2.55% daily and nearly 10% weekly, with a market cap of $2.39 trillion. The futures market saw $134.7 million in liquidations over the last 24 hours, with $117 million of that attributed to shorts.
• Altcoins also benefited from the massive surge, with Ethereum hitting $4,480 and Solana hitting $231. Binance’s BNB hit an all-time high of $1,108, up 7.27%
• Spot ETF inflows remain strong: BTC +$627 million, ETH +$307 million, both marking four straight days of inflows.
• Bitcoin options cluster around $100K–$120K, with light call demand at $130K and speculative interest at $300K.
• The U.S. Treasury executed another $2 billion buyback, bringing the weekly total to $4.9 billion.
• President Trump floated the idea of handing out $1,000–$2,000 stimulus checks funded by tariff revenue.