Bitcoin (BTC) Rebounds to $112,000 as ETF Flows and $115K Break Set Tone for “Uptober” Rally

QCP Capital reported that following last week’s sell-off the cryptocurrency market is showing initial signs of recovery, with BTC and ETH rebounding to the levels cited in the update. Over the weekend the spot market stabilized, suggesting that quarter-end basis unwinding and redemptions, rather than a sustained liquidity shock, accounted for the bulk of the selling pressure.

Notwithstanding notable outflows from ETFs—particularly on Friday—the market’s ability to absorb selling exceeded expectations. Market participants will key off this week’s ETF flows as a barometer of forthcoming institutional demand ahead of what is typically a seasonally bullish period.

Despite volatility, BTC registered a monthly gain above 3%, underpinning the Uptober narrative; however a decisive break above $115,000 would be required to validate a new uptrend. The options complex also reflects measured sentiment, with put skew and open interest in both BTC and ETH gradually normalizing.

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