According to the source, an X post dated Oct 2, 2025 claims Bitcoin (BTC) reclaimed USD 119,000 (source: X post, Oct 2, 2025). The post does not include corroborating exchange quotes, charts, or order book snapshots for the stated price level (source: X post, Oct 2, 2025). For trading decisions, cross-check live prices on CME Group BTC futures and Coinbase BTC-USD before placing orders (sources: cmegroup.com, exchange.coinbase.com). Confirm liquidity and spreads on Binance BTCUSDT to validate the level and avoid reacting to unverified headlines (source: binance.com).

According to the source, a $7 billion Bitcoin fraud trial is set to begin in London, creating immediate headline risk for BTC spot and derivatives. Deribit Insights and CME Group volatility dashboards show short-dated implied volatility and skew historically rise around major legal or enforcement headlines in crypto, which can impact options pricing and hedging costs (source: Deribit Insights; CME Group). UK Home Office asset recovery guidance under the Proceeds of Crime Act indicates seized digital assets can be realized, implying potential supply overhang if applicable to this case (source: UK Home Office POCA asset recovery guidance). Kaiko market-liquidity research documents that shock news often coincides with thinner order books and wider spreads, so monitoring depth, funding rates, and open interest on top venues is critical (source: Kaiko research). Crypto-exposed equities often trade as high-beta proxies to BTC during such periods, amplifying cross-asset volatility and risk management needs (source: Nasdaq trading data).

According to @MilkRoadDaily, BTC futures have reached $700 trillion in notional volume, roughly six times global GDP, and are described as one of the most traded markets globally (source: @MilkRoadDaily, X post dated Sep 10, 2025). For context, the World Bank estimates 2023 global GDP at about $105 trillion, aligning with the 6x ratio (source: World Bank, World Development Indicators). This scale typically coincides with deep liquidity but higher sensitivity to leverage-driven moves in BTC, a dynamic documented in research on crypto derivatives’ amplification of price swings (source: Bank for International Settlements, Quarterly Review analyses on crypto derivatives). Regulated venue participation underscores this liquidity profile for traders monitoring basis, funding, and open interest (source: CME Group, BTC futures and monthly volume reports).