- Bitcoin surged past $116K, briefly touching $116,600, while Ethereum jumped 4% to $4,287.
- Crypto equities rallied pre-market, with Strive up 25%, Strategy (MSTR) +2%, Bitfarms +3%, and NAKA +7%.
- Uptober’s first day signals strong momentum, fueled by gold’s record highs and broader market uncertainty.
The long-awaited “Uptober” has kicked off with a bang. Bitcoin soared above $116,000 on October 1, briefly touching $116,600 before settling slightly lower. The move marks a 2% gain over the past 24 hours and comes as gold trades near record highs of $3,900 and concerns over a potential U.S. government shutdown grip markets.
Bitcoin and Ether Rally Strong
Bitcoin’s climb set the tone for broader crypto markets. Ethereum followed with a sharp 4% gain, pushing ETH to $4,287. The synchronized rally underscores renewed investor appetite for digital assets, even as traditional markets brace for uncertainty. Both BTC and ETH are proving resilient, drawing momentum from safe-haven narratives tied to gold’s historic surge.
Crypto Equities Jump Pre-Market
The bullish energy spilled over into U.S. crypto-linked equities. Strive (ASST) surged 25% to $3.15, leading the charge in pre-market trading. Strategy (MSTR), often viewed as a proxy for Bitcoin exposure, rose 2% to $328. Mining firm Bitfarms (BITF) added 3% to reach $2.91, while Kindly MD (NAKA) climbed 7%, signaling broad enthusiasm across the sector.
Uptober Momentum and Market Outlook
October has historically been a strong month for crypto, and early signs suggest 2025 may follow the trend. With Bitcoin reclaiming critical levels and equities reacting positively, traders are eyeing further upside if momentum continues. The convergence of strong crypto prices, record gold highs, and rising institutional attention sets the stage for what could be another landmark Uptober.
