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Bitcoin hits record as ‘Uptober’ hype and debasement trade drive demand
Bitcoin surged to a fresh record high over the weekend and held firm in early Asian trading. The move came as risk-on sentiment in U.S. equities spilled over into digital assets. More importantly, the latest rally also reflects a sense of seasonal optimism. Traders are apparently leaning into Bitcoin’s well-known tendency to outperform in October — a pattern affectionately dubbed “Uptober” by crypto enthusiasts. The self-reinforcing psychology of this historical trend appears to be drawing momentum traders back into the market. At the same time, speculation is mounting that the U.S. government shutdown could ... (full story)
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