Bitcoin Futures Hit $88B as $120K Price Holds Steady

• Bitcoin holds firm at $120,000, with futures open interest surging to a record $88 billion.
• Experts warn of looming volatility, citing mixed technical signals.

On October 3, 2025, Cointelegraph reported that Bitcoin consolidated support around the critical $120,000 level. Meanwhile, futures open interest hit an unprecedented $88 billion, underscoring increased leverage in the cryptocurrency market. Analysts have flagged concerns about the possibility of a "liquidity flush" in the coming weeks, which could trigger significant price volatility.

Short-term predictions suggest Bitcoin may experience a temporary retracement before regaining upward momentum. Bullish traders are targeting $123,200, highlighting this threshold as pivotal for addressing an existing market imbalance. Conversely, bids are clustering around $118,500, which could act as a vital support level should prices correct downward.

However, technical indicators portray conflicting narratives regarding Bitcoin's trajectory. Bearish divergences have emerged on daily and weekly momentum metrics, such as the Relative Strength Index (RSI), hinting at waning market momentum. These divergences appear when prices achieve new highs while the RSI produces lower highs, signaling potential weakness.

Additionally, declining trading volumes have raised concerns about the sustainability of Bitcoin’s current rally. One trader noted the four-hour RSI remains in "overbought" territory, further fueling expectations of a short-term cooling off.

As of October 3, 2025, 16:08 UTC, Bitcoin (BTC) is priced at $122,999.44, registering a 2.51% increase in 24-hour trading volume, according to CoinMarketCap.