Bitcoin Threatens New High as Melt Up Continues

October is normally a pretty good month for Crypto and in 2025 it comes fairly late in the 4 year cycle that I've been tracking. As such I’ve been expecting a bit of mania to build up at this time of year anyway. Add in the tailwinds of world events and the fairly spectacular run of Precious Metals as the mainstream flight into alternative currencies progresses and it could be about to get spectacular if Bitcoin makes a new All-Time-High this week as it’s threatening to do…

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You can see from the chart above that BTC is already very close to making a new high but check out the strength of this latest push upward. It looks very Impulsive to me and it’s quite likely that a lot of shorts have just been squeezed out of their positions over the last week. If I am right then this would be incredibly bullish – hence the reason why I am getting a bit ahead of myself in making this post calling for BTC to go higher this week.

On the Macro front there isn’t a lot of specifically crypto related news but more broadly speaking the US government has just gone into Shutdown and nobody really knows how long that might last. Some are speculating that this gives the administration the power and opportunity to make some heavy cuts to government departments and jobs. Many might see this as bullish for markets generally. Gold and Silver have been tearing upward in recent times and in the last week they’ve accelerated even more.

It’s hard to know where this all leads or when or where it ends, but the charts of alternative currencies are screaming right now and we could be looking at a genuine Melt Up phase of the markets. Crypto and Bitcoin in particular are well placed to make major moves in a Melt Up environment as more people join the flood out of fiat and towards alternative currencies.