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The Bitcoin price edged down a fraction of a percent in the past 24 hours to trade at $124,517 as of 3:37 a.m. EST as Strategy’s Michael Saylor indicated he will pause buying BTC.
In an X post on Oct. 5, Saylor told his followers that there would be “no new orange dots this week,” indicating Strategy would not be buying Bitcoin this week.
No new orange dots this week — just a $9 billion reminder of why we HODL. pic.twitter.com/P84m14WF3G
— Michael Saylor (@saylor) October 5, 2025
The firm’s last pause was back in July. However, the company reaffirmed that its BTC acquisition strategy remains one of long-term accumulation, even if it occasionally takes breaks around earnings or market adjustment.
Bitcoin ETF Inflows Soared Last Week
Meanwhile, US spot ETFs drew in $3.24 billion last week, marking their second-highest week of inflows since launching in January 2024.
According to SoSoValue data, only the week ending Nov.22, 2024, saw higher inflows of $3.38 billion.
This comes as Bitcoin hit a new all-time high (ATH) of $125,506 on the weekend, according to CoinGecko.
Bitcoin Price Action Shows Bullish Continuation Within Rising Channel
The BTC price on the 3-day chart reveals a well-defined uptrend, characterized by a strong rising channel pattern that has contained BTC for several months. The channel highlights consistently higher highs and higher lows, a classic sign of bullish market structure.
At present, the Bitcoin price is trading near $124,500, maintaining momentum near the upper half of the channel after rebounding strongly from the midline.
The price of BTC found recent support around the $110,000 zone, coinciding with the 50-day Simple Moving Average (MA), suggesting that buyers remain firmly in control each time the asset dips into this region.
Historical resistance, once found around $115,000, has now turned into a support zone, reinforcing bullish conviction.
Meanwhile, the broader market pattern indicates that BTC has successfully defended the previous accumulation range near $100,000, marked in green, and has since transitioned into an expansion phase.
The longer-term uptrend remains intact as long as the 200-day Simple Moving Average (SMA), currently sitting near $84,700, continues its steady incline beneath the price.
Moreover, the Relative Strength Index (RSI) stands at 62.65, comfortably above the neutral 50 mark but not yet in overbought territory. This suggests that momentum remains positive, with Bitcoin having enough room to rise before hitting conditions of excessive buying pressure.
On the MACD (Moving Average Convergence Divergence), the blue MACD signal line has crossed above the orange signal line, producing a fresh bullish crossover. The histogram has flipped into positive territory, reinforcing the argument that momentum is tilting back in favor of buyers.
BTC Aiming For The $130,000 Level
Given the current confluence of bullish indicators, BTC appears poised to maintain its upward momentum.
If the Bitcoin price continues respecting the lower boundary of the channel, the next probable upside is at $130,000, where resistance from the upper channel line is likely to appear.
However, if the price of Bitcoin breaks above that resistance decisively, the rally could extend toward the $135,000 region.
On the downside, a close below $111,000 could signal short-term weakness, likely pushing Bitcoin to the lower support at $87,714.
The bearish outlook is supported by Ali Martinez on X, who says that a BTC sell-off could be underway.
A spike in profit-taking could be starting as the TD Sequential flashes a sell signal on Bitcoin $BTC. pic.twitter.com/lNN7w2xTMq
— Ali (@ali_charts) October 6, 2025
Meanwhile, Litecoin founder Charlie Lee said that investors should buy BTC and sit on it.
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