Sudden revival in the cryptocurrency market at midnight


Bitcoin entered October with a rapid rally. While Bitcoin, the asset with the highest transaction volume in the crypto market, saw its highest level in 6 weeks, other crypto assets also joined the rally.
Bitcoin climbed to its highest level in the last six weeks as inflows increased at the beginning of October.
While Bitcoin tested above $28,000, assets such as Ether, Litecoin and Solana also participated in the rally. Investors await the trial of Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, which is scheduled to begin Tuesday.
Bitcoin rose 4.1 percent in September, but fell 11 percent last quarter. Bitcoin has gained value in October in each of the last four years.
“There appear to have been significant buying flows, likely with the start of a new accounting quarter, and the resulting movements were exacerbated by low liquidity over the weekend,” said Caroline Mauron, co-founder of OrBit Markets.
It was stated that the rally is expected to continue in October, which is generally a positive month for crypto markets, and $30,000 is the next major resistance level for Bitcoin.
Hayden Hughes, co-founder of Alpha Impact, said BlackRock Inc. is still working on a deal with BlackRock Inc., even though the U.S. Securities and Exchange Commission postponed the decision last week. He said speculation that his company would approve Bitcoin ETF proposals also helped the rally.
#ContentStar# #contentcreator# #BountyCreator# #GateioBountyCreator# #Bitcoin#
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
0/400
Nakokradvip
· 2023-10-02 07:59
thnks
Reply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)