Bitcoin October Rise: What Awaits Investors?

Bitcoin October Surge: What Awaits Investors?

The risk of a U.S. government shutdown has directed investors toward alternative value storage assets. This situation has paved the way for Bitcoin to gain 12.0% and Ethereum to gain 12.7% in value.

How Do Historical Data Affect Investors?

Bitcoin has closed October positively in 9 out of the last 10 years. Nexo analyst Iliya Kalchev pointed to rallies of 50% in 2017 and 40% in 2021, stating that historical data provides a strong reference for investors. Interestingly, Bitcoin rose about 5% this year during what is typically known as "Red September." Compass Point suggests that this positive outlook could raise expectations for October returns.

The Role of Market Psychology

KuCoin Ventures analysts emphasize that cyclical movements play a critical role in market psychology. They note that even if not tied to seasonal narratives, positive sentiment could trigger capital flows, leading to a “self-fulfilling prophecy.” This could create a favorable environment for October.

The Impact of the Fed and Spot ETFs

Bitfinex analysts state that as October begins, the Fed's easing steps and continued demand for U.S. Spot ETFs are among the strong signals. These developments may allow Bitcoin and Ethereum to continue gaining in value.

Weekly News Summary

• Throughout the week, there was a net inflow of $3.24 billion into Spot Bitcoin (BTC) ETFs and $1.30 billion into Spot Ethereum (ETH) ETFs.
• JP Morgan predicts that Bitcoin (BTC) could reach $165,000 by the end of the year.
• In the second half of September, whales increased their holdings in Litecoin (LTC) and Ondo (ONDO). Whales holding between 10,000 – 100,000 LTC purchased approximately $31.6 million worth of LTC.

Memecoin and High-Yield Projects

There is growing interest in the domination of pump-fun in the memecoin market. Fitell Corporation made a $1.5 million purchase of PUMP, while PUMP has gained 40.1% in the last 7 days.

Meanwhile, the demand for the high-yield PancakeSwap (CAKE) project continues. CAKE generated $49.7 million in revenue over the last 30 days and gained 32.2% in value over the last 7 days.

The information provided here does not constitute investment advice.