Bitcoin enters October following an unexpected green September and strong long-term holder accumulation. However, analysts warn that a $4.35 billion risk from leveraged long positions threatens potential market volatility.

Santiment reports that Bitcoin wallets holding 100 to 1,000 BTC have accumulated significant holdings, signaling smart money interest. However, rising 10-year Treasury yields and macroeconomic pressures have recently dragged Bitcoin below key price levels.

Bitcoin has climbed 13% since the Federal Reserve's rate hike, driven by Wall Street fund purchases. Key factors include resolved regulatory uncertainty, fading fears over higher interest rates, and favorable technical charts.