Pop and Surge: Bitcoin Starts the Week Firing

We have now seen four straight days of bullish momentum across the crypto market, with Bitcoin closing out the recent run with a breakout this morning, hitting $115K off the back of positive developments in US-China relations.

Much of this year has been dominated by the ongoing tariff and trade tensions between the US and China, and October has followed the same pattern. From Trump announcing 100% tariffs on Chinese imports, which triggered a steep drop in Bitcoin and sparked mass liquidations, to this week’s turnaround driven by expectations of a deal. Just a few hours ago, Bitcoin was trading below $113K after a strong Sunday, but a statement from US Treasury Secretary Scott Bessent confirmed that a framework for a trade agreement has been reached between the two countries.

Markets reacted strongly. Bitcoin surged over $2,000 in five minutes, and altcoins followed with a sea of green across the board. US equity futures opened with strength, with the S&P 500 and Nasdaq futures both up nearly 1%. Gold opened the day down 1%, showing a clear shift from risk-off to risk-on assets as sentiment around a trade resolution improves. If Trump and Xi reach an agreement at their scheduled meeting on the 31st, we could see a broader rally across risk markets. Gold may continue its pullback, while equities push for new all-time highs and Bitcoin follows suit.

Bitcoin is now back in the green for October. After a positive start to the month and a volatile middle, this final week could be the push that sends it towards all-time high territory. BTC is just 10% away from its record high, and if bullish sentiment holds while macro and political risks ease, a new high before the end of the month is not out of reach. Even if it does not happen this month, a green October close would set the foundation for November, which is historically Bitcoin’s best month with an average return of 40%.

Stormrake Spotlight: Hyperliquid (HYPE) ($47.50)

Yes, HYPE was $39 in Saturday’s morning note. Today it is at $47.50, up nearly 20% in two days. We have consistently highlighted HYPE’s ability to lead in bullish market conditions and pointed to the bullish setup forming when it was undervalued. That is why we continued to emphasise the opportunity to accumulate HYPE over the past week. It is not too late either, as it still trades below the key long-term buying zone.

BTC/USD Key Levels and Price Action:

Bulls are fully in control. Both momentum and structure have shifted back in their favour as Bitcoin continues to push higher. The next major level to watch is $118K, which is likely to be tested soon. The 21EMA has been acting as reliable support and we can expect BTC to continue bouncing from it as long as the broader market remains strong.

BTC Total ETF Flows for 26 Oct: (data unavailabe at the time of writing)

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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