According to @rovercrc, Bitcoin’s market capitalization has surpassed $2.5 trillion, marking a new milestone for BTC’s market depth and visibility among macro allocators (source: @rovercrc on X, Oct 5, 2025). At a $2.5 trillion valuation, the implied BTC price lands roughly in the mid-$120,000s assuming about 19.7 million coins in circulation (source: Blockchain.com Total Circulating Bitcoin data). Historical milestone breakouts are frequently accompanied by increases in derivatives open interest and funding rates, which traders monitor for leverage buildup and potential reversal risk (source: Kaiko Research derivatives and liquidity reports).