Bitcoin Uptober Trend Will Happen? This Is What Analysts Say

Bitcoin illustration (photo: Unsplash)

JAKARTA - Bitcoin has skyrocketed again to reach US$118,000 or around Rp1.95 billion after US labor data recorded a decline of 32,000 jobs in September, the lowest since March 2023.

This increase prolongs the positive trend of Bitcoin closing the third quarter of 2025 on record highs. BTC ended September with an increase of about 5% in the range of US$114,000 (Rp1.89 billion), contrary to historical trends that usually weaken.

Tokocrypto analyst, Fyqieh Fachrur explained that this increase was driven by the situation. Where the closure of the US administration after Congress failed to pass the budget prompted investors to switch to safe haven assets.

"Gold prices soared to a record above 3,900 US dollars (Rp 64.7 million) per ounce, while Bitcoin also benefits as a hedging asset," Fyqieh said in a statement on Thursday, October 2.

Since 2015, the fourth quarter has historically been the most bullish period with an average increase of nearly 58%, higher than the other quarter. The big question now, will 2025 repeat that pattern?

To answer these questions, Fyqieh revealed that a combination of technical, fundamental, and historical factors puts Bitcoin at a very positive momentum.

"As long as BTC is able to survive above 118,000 US dollars (Rp1.95 billion), the target of 122,000-137,000 US dollars (Rp2.02-Rp2.27 billion) is realized in the near future," he said.

With a combination of lower macro data, opportunities for cut in interest rates, bullish seasonal factors, and institutional investor support, Bitcoin is entering its fourth quarter of 2025 in a very strong position.