Bitcoin climbed in close view of a new record high above $ 124,500, uncovering a five-day rally that marks one of its strongest start to October on the record.
Crypto has collected less than $ 110,000 last weekend and has risen almost 15% this week, including approx. 3% over the past 24 hours to the current $ 123,300.
October has historically been a strong month for Bitcoin, and this year it seems that it is no different when Bullish Sentiment returned into effect on the way into the fourth quarter.
From July to September, Bitcoin’s award largely stopped, trade in a narrow interval and under -priesting shares and gold, which apparently hit new items on a daily basis.
But Momentum is changed.
“This moment is different from the past,” said economist Noelle Acheson, author of Crypto is macro now newsletter. In a post on X, Acheson pointed to a mix of strong institutional participation and wider macroeconomic drivers as new forces creating this cycle.
“In previous cycles, we did not have this level of sustained global degradation,” she said, referring to the erosion of Fiat currency value across larger economies. Alongside that, she noted that growing geopolitical uncertainty encourages a “gradual turn away from the US dollar against global, tough assets,” with Bitcoin placed as an important recipient.
While speculative enthusiasm is often part of Crypto rallies, Acheson suggested that this increase be driven by deeper structural shifts – and could have residence. This would especially be different from recent items in July and again in August, both of which were met violent sales.
“Fomo is a strong strength in Crypto Asset World,” she said. “What looks like the beginning of a new momentum wave will be driven by factors that are new and old. And it will be strengthened by a larger potential pool of investors.”
