Crypto Market Heats Up: Bitcoin Hits $118K, Ethereum Near $4.3K, XRP Rebounds Toward $3.00

Bitcoin surged past $118,000 today, October 2, 2025, marking one of its strongest moves in recent weeks and reinforcing optimism that the final quarter of the year could deliver further gains. According to CoinDesk, BTC briefly touched $119,455, its highest level since mid-August, extending a rally that has now delivered nearly four percent gains over the last twenty-four hours. Earlier reports had placed the price around $116,000, but the renewed buying wave pushed the benchmark cryptocurrency firmly higher.

Ethereum also traded with a bullish tone, holding around $4,380 as steady institutional inflows supported its outlook. Meanwhile, Ripple’s XRP rebounded strongly, climbing toward $2.97 after finding support at its 100-day Exponential Moving Average. The rebound positions the token for a potential breakout above the psychologically important $3.00 mark, a level closely watched by traders.

The broader crypto market was equally buoyant. A softer U.S. dollar, pressured by fears of an extended government shutdown and weaker economic data, provided a supportive backdrop for risk assets. The weakening greenback has historically been a tailwind for cryptocurrencies, and the latest developments suggest that this correlation is once again in play.

Institutional Flows Drive Momentum

A major driver of Bitcoin’s rally has been the return of institutional investors. Spot Bitcoin exchange-traded funds in the United States recorded $430 million in inflows on Tuesday, continuing a streak of renewed demand. BlackRock’s iShares Bitcoin Trust led the way with inflows of $199 million, followed by Ark Invest’s ARKB at $106 million and Fidelity’s FBTC with $55 million. None of the twelve approved ETF products saw outflows, a rare sign of across-the-board institutional confidence.

Further evidence of institutional appetite came from Japan’s Metaplanet, which purchased an additional 5,268 BTC last week worth more than $600 million. The firm now holds more than 30,000 Bitcoin in its treasury, valued at $3.53 billion at an average buying price of $107,912. This accumulation, combined with the ETF inflows, highlights how institutional positioning is strengthening just as Bitcoin approaches critical resistance levels.

Ethereum has also benefited from consistent ETF activity. Data from SoSoValue showed $547 million in inflows on Monday and another $127 million on Tuesday, underscoring growing investor appetite for exposure to the second-largest cryptocurrency. Although only one of the nine ETH funds recorded inflows on Tuesday, the continued net positive demand provides a supportive foundation.

Technical Outlook for BTC, ETH, and XRP

From a technical perspective, Bitcoin’s leap above $118,000 has shifted market sentiment decisively in favor of the bulls. The alignment of key moving averages also supports this view, with the 50-day EMA at $113,471 and the 100-day EMA at $111,929 now acting as nearby support zones. The 200-day EMA at $106,515 further strengthens the case for a bullish continuation, while the Relative Strength Index at 58 confirms that momentum is picking up but not yet in overbought territory. Analysts suggest that a sustained close above these levels could open the path toward the psychological $120,000 threshold.

Ethereum continues to display resilience around the $4,300 to $4,400 region. Support from its 50-day EMA at $4,214 and the 100-day EMA at $3,880 keeps the short-term structure bullish. If buyers manage to push ETH beyond the round-number resistance at $4,500, the next challenge will be overcoming the longer-term downtrend that has capped gains since the all-time high near $4,956.

XRP is regaining positive momentum after correcting sharply in September. Trading near $2.97, the token is once again testing the upper edge of its consolidation range. With the 100-day EMA at $2.83 and the 200-day EMA at $2.61 offering strong support, market sentiment is leaning bullish. A confirmed breakout above $3.00 would likely invite further buying interest, with the next resistance seen at $3.18.

Outlook for the Coming Weeks

The strong start to October has revived optimism that the so-called “Uptober” effect, where cryptocurrencies often perform positively in the final quarter of the year, may once again play out. With institutional inflows accelerating, the dollar under pressure, and technical indicators aligning in favor of buyers, Bitcoin, Ethereum, and XRP all look well-positioned for further upside.

The coming sessions will be crucial in confirming whether Bitcoin can hold above $118,000 and target $120,000, whether Ethereum can clear $4,500 to shift its long-term trajectory, and whether XRP can finally break the $3.00 barrier. While volatility remains high, the momentum currently favors the bulls.