Crypto Markets See Strong October Rally as Bitcoin Hits New All-Time Highs
Description
Bitcoin futures reached new all-time highs at $127,240 during Monday's trading session, marking the sixth consecutive green day. The leading cryptocurrency has surged from $110,000 to $127,240 over the past six trading sessions, with Ethereum showing even stronger performance, up 3.5% on the day. Ryan Grace highlighted that October historically delivers the strongest monthly returns for Bitcoin, averaging 20% gains over the past decade. The fourth quarter generally provides the best performance period for crypto markets. Market participants discussed potential catalysts, including the possibility of new ETF approvals for Solana and XRP by month-end. Notably, Grayscale announced plans to stake Ethereum in their ETF, which could attract dividend-focused investors. Analysts noted Bitcoin market cap dominance has increased to nearly 60%, though some altcoins are showing signs of outperforming Bitcoin. When assessing pullback potential, historical data suggests 10-15% corrections are common, even during bullish phases.