Bitcoin Price Prediction: BTC Bulls Regain Control Despite Mt. Gox Repayment Delay

Bitcoin (BTC) is showing renewed strength after rebounding from the $103,575 level, marking a steady recovery in recent sessions. The cryptocurrency has regained major moving averages and is currently testing the 200-EMA region near $115,900. This marks an important inflection point where bulls aim to confirm a mid-term trend reversal.

BTC’s price has climbed above the 20-, 50-, and 100-EMA clusters, consolidating just below the 200-EMA zone. The 50% Fibonacci retracement level near $114,924 acts as a short-term resistance, and a breakout could push prices toward $117,600 and $121,400. Holding above $113,000 keeps the bullish structure intact, while losing $114,000 may invite corrective pressure toward $111,400 and $109,300.

The market’s technical tone remains constructive, as consistent closes above the $115,000 range could signal renewed institutional interest. Sustaining this move would likely drive the next leg higher toward $126,000, completing the recovery from September’s drawdown.

Bitcoin’s futures open interest has reached $74.21 billion, one of the highest levels since early 2024. The consistent rise in open interest suggests increasing leveraged activity and trader confidence. Moreover, this growth reflects institutional re-entry into the derivatives market, as more participants are positioning for higher volatility.

However, elevated open interest often precedes sharp moves in either direction, especially during liquidation cascades. Consequently, the derivatives market remains balanced between optimism and risk, indicating a cautious but strong bullish bias heading into year-end.

Throughout 2025, Bitcoin has recorded steady net outflows from exchanges, showing reduced selling pressure among long-term holders. The latest data on October 27 revealed a minor $47.71 million net outflow, with BTC trading around $115,604. This trend suggests growing confidence, as investors continue moving their assets to cold storage rather than keeping them on exchanges.

In a separate development, Mt. Gox’s trustee creditor repayments to October 2026, citing procedural delays. This marks the third postponement since 2023. While the delay limits short-term supply risks, it prolongs uncertainty for creditors expecting long-awaited payouts.

Key levels remain clearly defined as Bitcoin consolidates near $115,000 following a sharp rebound from $103,575.

The chart structure suggests Bitcoin is stabilizing within a recovery channel, where momentum is gradually building after a prolonged correction. A decisive breakout above $117,600 would confirm a bullish continuation toward $121,000–$126,000, while failure to sustain above $114,000 could invite renewed consolidation.

Bitcoin’s near-term outlook depends on whether buyers can defend the $114,000–$115,000 support cluster long enough to fuel a move above $117,600. Increasing open interest, steady exchange outflows, and institutional accumulation suggest growing confidence, but elevated leverage may inject volatility.

If buying momentum holds, BTC could target $121,400 and eventually retest $126,000 before year-end. A breakdown below $111,900, however, would weaken bullish conviction and risk a retracement toward $109,000.