• Over $110 billion has been added to the crypto market in the last 12 hours.
• This move in liquidity has revived bullish sentiment for Uptober. 
• The price of BTC could bottom at $107,000 before a recovery and new ATH in Q4.

As the crypto market enters the final week of Q3, the crypto community sees that over $110 billion has been added to the crypto market in the last 24 hours hours, igniting strong bullish sentiment for Uptober, under the expectations that the price of BTC and altcoins will surge exponentially in Q4 and hitting several new ATH targets all before December. Is this a true bull pump, or a desperate move from bulls to trigger another pump? 

Over $110 Billion Has Been Added to the Crypto Market in the Last 12 Hours

Over the month of September, most analysts expected a correction to take place, a correction that would take the price of Bitcoin (BTC) to targets as low as $106,000 or even to $90,000. As we reach the final days of September and Q3, the price of Bitcoin seems to be reaching the end of its correction. As of last week, the price of BTC dipped as far as the $110,000 price range and today has seen a surge back to the $111,000 price range. 

This sudden pump in price is due to the fact that over $110 billion has been added to the crypto market in the last 12 hours. As we can see from the post above, the sudden move in liquidity has pushed the price of BTC and ETH back up to prices high than they were last week. This causes the crypto community to wonder, is this a sure fire market recovery, or is it a desperate move from the bulls to salvage the bull run?

Initially, analysts were certain the price of BTC would drop to the $106,000 price range as just above this area was a massive long liquidation waiting to happen. As we can see from the post above, $4.6 billion would be liquidated if BTC dipped to below the price of $107,000. However, if BTC price were to recover and reclaim the $120,000 price range, then $15 billion shorts would see immediate liquidation. The post concludes that degens are maxing out their funds at the moment.    

Bullish Sentiment for Uptober Rises 

According to one reputed crypto analyst, known for many accurate predictions so far, Doctor Profit says that BTC is still on its way to trade between $90,000 and $94,000 to close a CME Gap. Thus, he connects the current pump to mere desperation from bulls to pull the price of BTC back up, but believes this crash is inevitable. He also states that the sudden flow in liquidity is due to President Trump and Eric Trump’s attempt to have more funds flow into the market under the false pretence of a bullish Q4 and the long-awaited altseason peak phase.