Bitcoin Price Climbs As CleanSpark Wins $100M Coinbase Loan

The Bitcoin price has climbed 1% in the last 24 hours to trade at $113,437.94 as of 1 a.m. EST on a 45% increase in daily trading volume to almost $59 billion.

This jump in the BTC price comes after Bitcoin mining firm CleanSpark secured $100 million in financing with Coinbase Prime, using part of its 13,000 BTC holdings as collateral. The company plans to use the funds to expand Bitcoin mining, HPC, and energy operations.

With $300M in BTC-backed financing to date, CleanSpark recently posted record Q3 revenue of $198.6M and mined 657 BTC in August, a 37.5% increase from last year. The firm says versatility across mining and computing will drive future growth.

CleanSpark $CLSK and $COIN sign $100 million deal. 👀 pic.twitter.com/HNXgx4WWhz

— Cole Grinde (@GrindeOptions) September 22, 2025

Meanwhile, BitMEX co-founder Arthur Hayes reaffirmed his $250,000 Bitcoin price target, arguing that institutional adoption, ETF momentum, and central bank policies will fuel BTC’s next major rally.

With Bitcoin trading above $113k, Hayes believes the market remains on track for his ambitious forecast.

Bitcoin Futures Open Interest Hits Record High

Bitcoin futures open interest has reached new highs, showing strong growth in market activity. Data from Coinglass shows that open interest has climbed above $100 billion as Bitcoin’s price trades above $120,000. Both have been rising steadily since late Q3, signaling growing confidence among traders.

This surge in open interest means more traders are entering the futures market, betting on Bitcoin’s price moves. It also reflects deeper liquidity and greater participation from both retail and institutional investors.

When open interest rises alongside price, it often points to stronger momentum, but it can also lead to higher volatility if sudden corrections happen.

Exchange BTC Futures Open Interest: CoinGlass

The trend highlights how important futures trading has become in shaping Bitcoin’s price. With more money flowing into derivatives, the futures market is playing a bigger role than ever in driving overall sentiment.

If this upward trend continues, Bitcoin could maintain its strong momentum. However, traders should be cautious of potential risks, especially large liquidations during sharp pullbacks.

Bitcoin Price Targets $150K As Chart Signals Bullish Breakout

Bitcoin (BTC) is trading at about $113,025 after small gains, and traders are watching closely for a possible big breakout. The chart shows that Bitcoin has built strong support and could be preparing for a move toward $150,000 if the trend holds.

Earlier this year, Bitcoin formed a rounded bottom pattern near $90,000, which acted as a strong support level. From there, the price moved into a long consolidation phase before breaking above the neckline around $113,000. This breakout is important because it shows that buyers are regaining strength and could push prices much higher.

Right now, Bitcoin is moving sideways, testing the $113,000 area as a new support level. Many traders see this as a healthy retest after the breakout. If Bitcoin can stay above this zone and build momentum, the next target could be in the $130,000 to $150,000 range.

BTCUSDT Analysis Source: Tradingview

The Relative Strength Index (RSI) is sitting near 55, which is neither overbought nor oversold. This means there is still room for the price to climb without triggering heavy selling pressure. However, the RSI also warns that Bitcoin could face short-term pullbacks before making its next big move.

For traders, the key entry point remains around the $113,000 level, where buying pressure is expected to return. If Bitcoin can break above $120,000, it would confirm the bullish outlook and could bring more buyers into the market, including larger institutional players. On the downside, failure to hold above support could see Bitcoin drop back to the $100,000–$105,000 range.

Overall, the technical outlook for Bitcoin looks positive. The rounded bottom pattern, consolidation breakout, and stable RSI all point to higher prices ahead. Traders are aiming for a potential reward zone up to $150,000, but they are also keeping a close eye on support levels in case of a pullback.

If the current breakout holds, the market could see a strong rally in the weeks ahead. But if support fails, sideways trading could continue for longer before the next big move.

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