The notorious “Uptober” has just kicked off, and the market is already flashing green: Bitcoin broke through the $120,000 level, while Ethereum rallied 13.7% on the week, climbing as high as $4,550. Overall market capitalization now stands at $4.13 trillion, just shy of its all-time high.
Spot ETFs provided strong support: Bitcoin funds saw $2.25 billion in inflows over the past four sessions, while Ethereum products attracted $785 million. Institutional players are also backing the rally — BitMine alone holds 2.6 million ETH worth $11 billion.
Altcoins are shining as well: Hyperliquid (+19%), Solana (+18.6%), and Binance Coin, which broke above $1,100 for the first time with a +16.5% gain.
October has historically been a powerful month for crypto. Since 2013, Bitcoin has averaged a 21% return, with bull years like 2017 (+48%) and 2021 (+40%) posting even bigger gains.