QCP Capital: Bitcoin Must Break $115K to Confirm “Rising October” Rally

Key Takeaways:QCP Capital says crypto markets are rebounding after last week’s sell-off, with BTC back at $112,000 and ETH above $4,100.Despite heavy ETF outflows, spot prices stabilized, suggesting selling was driven by end-of-quarter liquidations.BTC logged a monthly gain of over 3% in September, supporting the “Uptober” narrative.Analysts warn Bitcoin must decisively break $115,000 to confirm a sustained uptrend.Market Recovery After ETF OutflowsIn its latest commentary, QCP Capital noted that despite significant ETF outflows — particularly on Friday — the crypto market showed resilience over the weekend. The stabilization in BTC and ETH prices suggests that much of the selling pressure came from end-of-quarter basis unwinds, rather than a deeper structural shift.“Uptober” Momentum at RiskSeptember’s close still marked a net gain of 3% for Bitcoin, a positive sign heading into October, traditionally one of crypto’s strongest months. This seasonal trend, dubbed “Uptober”, is now in focus, but analysts caution that a clean breakout above $115,000 is necessary to validate the bullish setup.Options Market Signals StabilizationThe derivatives market is also showing early signs of recovery. QCP observed that bearish skew and open interest in both BTC and ETH options are normalizing, reflecting gradual confidence returning among traders.