Bitcoin Soars Past $112,000 Mark as Weekend Rally Fuels Bullish Momentum
Digital gold proves its mettle with stunning weekend surge
The Recovery Nobody Saw Coming
Bitcoin smashed through the $112,000 barrier over the weekend, leaving bears scrambling and traditional finance veterans muttering about 'irrational exuberance' between sips of their overpriced coffee. The cryptocurrency's weekend performance delivered exactly what skeptics said couldn't happen—meaningful gains when traditional markets were closed.
Weekend Warriors Rejoice
While Wall Street bankers were enjoying their Hamptons getaways, Bitcoin decided to throw its own party. The weekend surge demonstrates crypto's 24/7 nature doesn't just mean you can lose money at 3 AM—it means you can make it too. Trading volumes exploded as retail and institutional players alike piled into the momentum play.
Breaking Psychological Barriers
Crossing the $112,000 threshold matters more than just another number on the chart. It represents a psychological victory for bulls who've been waiting for this level to become support rather than resistance. The move confirms what crypto natives have known all along—weekends aren't for resting when there's money to be made.
Another week, another reminder that while traditional finance sleeps, Bitcoin eats. Maybe those finance bros should consider setting weekend alarms.
Signs of optimism?
While sophisticated traders across CME’s products resort to rebalancing, perpetual traders in the cryptocurrency space have doubled down despite last week’s brutal liquidation events.
“Optimism is re-emerging,” QCP Capital noted, citing the growth in open interest for Bitcoin’s perpetuals from $42.8 billion to $43.6 billion, coupled with positive funding rates.
On prediction market Myriad, launched by Decrypt's parent company DASTAN, users expect bitcoin to close out September above $105,000, but remain divided on its long-term outlook. Predictors place a 57% chance on Bitcoin dipping to $105,000 rather than surging to $125,000, continuing a broadly bearish trend that kicked off with last week's price slump.
All eyes are now on September’s Nonfarm Payrolls, scheduled for Friday, which could be delayed if the U.S. government shuts down.
Despite near-term uncertainty, investors remain bullish, as Bitcoin is poised to enter a historically bullish fourth quarter with a median return of 52%.
“Bitcoin will continue to anchor sentiment, especially with the halving narrative getting closer,” Shawn Young, chief analyst of MEXC Research, told Decrypt.
