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Bitcoin and gold surged on safe-haven demand after the US authorities shutdown, fueling discuss that an Uptober rally is underway.
The shutdown started at 12:01 a.m. ET when Congress did not go a funding invoice, sending traders into conventional and digital shops of worth. Bitcoin climbed above $116,000, whereas gold set its thirty ninth report excessive this yr.
Crypto market chief Bitcoin, usually seen as a digital retailer of worth, noticed its worth soar greater than 3% to commerce at $116,846.22 as of 8:03 a.m. EST, in keeping with knowledge from CoinMarketCap.
BTC worth (Supply: CoinMarketCap)
The transfer sharpened deal with Bitcoin’s historic October power, with merchants noting the crypto is simply 6% beneath its all-time excessive of $124,457.12 that it set on Aug. 14 because it begins a seasonally bullish quarter.
“Proper now, Gold is hitting new highs, which implies Bitcoin will do that subsequent,” stated @TedPillows, with greater than 209k followers, on X. ”$BTC has been extremely correlated to Gold with an 8-week lag. Perhaps we might see one other correction, however general This fall can be huge for Bitcoin.”
The sturdy efficiency appears to have caught merchants off guard, significantly ones that have been betting the main crypto’s worth would fall.
Information from CoinGlass reveals that over $628 million was liquidated from the market previously 24 hours. Nearly all of these liquidations got here from quick positions, with $409.77 million being worn out from these trades.
Trying on the previous hour, $11.36 million was liquidated from quick positions, whereas solely $1.12 million was worn out from lengthy positions.
In each the 24-hour and 1-hour liquidations, the quick trades that acquired hit probably the most have been for Bitcoin.
Analysts Say This fall May Be Massive For Bitcoin
In accordance with MN Fund founder and famend dealer Michael van de Poppe, this might be just the start of BTC’s beneficial properties. In an X put up to his greater than 809.7K followers, the analyst stated that BTC “seems primed for an enormous breakout upwards” on the weekly chart.
The weekly of #Bitcoin seems primed for an enormous breakout upwards. pic.twitter.com/lVOqxP5hua
— Michaël van de Poppe (@CryptoMichNL) October 1, 2025
On-chain evaluation agency CryptoQuant echoed an analogous sentiment on X. In a current thread, the agency pointed to the rising USDT market cap, the purchase sign offered by the stablecoin provide ratio, accumulator demand hitting an all-time excessive, and inter-exchange stream pulse as potential catalysts for an enormous BTC transfer.
5 Key Alerts for Subsequent week ✅
Bitcoin is consolidating after final week’s drop from $115K to $108K. The following transfer might be huge.
Listed below are 5 key on-chain alerts to observe 👇 pic.twitter.com/MOIwJkJZem
— CryptoQuant.com (@cryptoquant_com) September 30, 2025
Bitcoin Enters A Traditionally Bullish Month And Quarter
The rally by Bitcoin comes as BTC enters what has traditionally been a bullish month for the crypto king.
BTC’s historic month-to-month efficiency (Supply: Coinglass)
Since 2013, there have solely been two situations previously the place Bitcoin posted a month-to-month loss in October. This has led to merchants and analysts usually referring to the month as “Uptober.”
BTC has additionally posted double-digit beneficial properties in virtually all the previous Octobers. The one time when this was not the case was in 2022, when the crypto solely managed a 5.5% acquire for the month.
In the meantime, the most important October acquire was recorded in 2013, when BTC’s worth soared over 60%.
This fall has additionally traditionally been a bullish month for Bitcoin, with simply 4 situations when the crypto didn’t print a acquire throughout this era. The 2017 bull run yr was additionally a breakout interval for the most important crypto by market cap.
Binance co-founder Changpeng Zhao (CZ) has alluded to a possible repeat of BTC’s historic October efficiency this month.
On X on Sept. 30, he shared a screenshot of the Bitcoin worth chart from 2017, which he says was his first crypto cycle. The chart reveals the BTC worth went parabolic after September.
Not predicting the longer term. And do not get too excited.
A September in a previous (my first) crypto cycle. Simply knowledge. 🤷♂️ pic.twitter.com/zcUOHSCh1r
— CZ 🔶 BNB (@cz_binance) September 30, 2025
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