Bitcoin (BTC) is eyeing a breakout toward $130K as the start of “Uptober” has seen buyers on Binance outpace sellers by about $1.8 billion in futures volume. According to analysis shared on X by CryptoQuant contributor Pelinay P.A., taker buy volume on Binance has dominated sell volume throughout the month. Bitcoin Funding Rates on Binance Indicate a Potential Rally “Overall, the setup remains bullish, negative funding suggests accumulation opportunities while strong spot demand underpins the rally’s sustainability.” – By @PelinayPA Link https://t.co/mJmLZJMVhX pic.twitter.com/OHXi1eJUGk — CryptoQuant.com (@cryptoquant_com) October 2, 2025 “It’s a clear sign that traders are betting long, and they’re doing it hard.” The move comes as Bitcoin trades between $110,000 and $120,000, driven more by spot demand and long-term holders than by excessive leverage. Binance Futures Funding Rates Stay Negative As Accumulation Signals a $130K BTC Breakout Funding rates on Binance are either neutral or slightly negative, which is unusual. Usually, when prices rise, funding rates go positive as longs pile in. But right now, the market looks more like a quiet accumulation than a speculative trend. And that’s exactly the kind of environment that can lead to sharp upward moves when buying pressure finally breaks through resistance. This setup sets the stage for potential upward squeezes, with BTC set to test $120,000–$125,000 and possibly extend to the $130K level. Just a few days ago, traders were watching a “gap” in CME Bitcoin futures that pointed to a possible dip back to $110K. These gaps usually get filled fast; the hit rate this year was 100%, but this time, sellers couldn’t push hard enough. The gap stayed open, and Bitcoin kept its bullish momentum. Current conditions also align with the STH-MVRV pricing corridor , which tracks the profitability of short-term holders. The upper boundary of this range sits near $130K, a level where profit-taking historically intensifies. Source: CryptoQuant Bitcoin has stayed above its realized price since early 2024, which means the broader trend is still bullish. Even if some short-term holders cash out near $130K, it doesn’t mean the rally is over. Spot market signals confirm this strength. Coinbase Premium Gap Nears 92 as U.S. Demand Drives Price Higher On Coinbase, Bitcoin is trading about $92 higher than on Binance. That premium shows strong demand from U.S. buyers, likely institutions, who are willing to pay more to get in. At the same time, profit-taking hit $3.7 billion in a single day recently, the fifth-highest this year. But even with that much selling, the market absorbed it without flipping bearish. That’s a healthy sign that there’s enough buying power to handle supply without breaking the trend. Additional support comes from US spot Bitcoin ETFs, which saw $600 million in inflows on Thursday alone, lifting the weekly total to $2.25 billion. On the derivatives side, Bitcoin Open Interest has climbed to a record $45.3 billion , the highest level of leverage ever recorded. With both spot and futures markets moving in sync, upward pressure is mounting toward the $130K breakout. Bitcoin Open Interest just hit a new all-time high: $45.3B That’s the highest level of leverage the market has EVER seen. pic.twitter.com/8hNP29vLkf — Maartunn (@JA_Maartun) October 3, 2025 In parallel, IBIT options tied to BlackRock’s spot ETF are experiencing rapid growth. Bloomberg analyst Eric Balchunas added that IBIT options now outpace futures in open interest, underscoring Wall Street’s growing role in Bitcoin price discovery. Technical Analysis: RSI on the 4-Hour Chart Targets $130K BTC Breakout Technical indicators further back the bullish case. Bitcoin’s RSI sits at 69 , comfortably below overbought levels, while Coinglass data shows none of the 30 peak-cycle signals have been triggered. The market also bounced firmly from the 21-week EMA , a key support, gaining more than 10% and closing in on the $124K range. Source: TradingView On the 4-hour chart , Bitcoin is testing the $120K level following a strong rebound from the $108K–$110K support zone. The $115K region has flipped from resistance to support, giving bulls a stronger base. Immediate upside targets lie at $126,500, where trendline and horizontal resistance converge, with a possible extension to $132,000 if momentum holds. Volume supports this view, showing strong buying activity. Failure to maintain $120K could prompt a retest of the $114K–$115K area, but the broader structure remains bullish. The post Uptober Kicks Off With $1.8B Futures Buy Volume on Binance — $130K BTC Breakout Ahead? appeared first on Cryptonews .
