Uptober in Full Swing as Crypto Market Tops $4.3 Trillion

The global crypto market cap reached an all-time high of $4.35 trillion on October 6, with Bitcoin exceeding $126,000 and Ethereum surpassing $4,500. Spot Bitcoin and Ethereum ETFs have drawn over $70 billion in inflows since January 2025, indicating a strong institutional adoption trend. Historical data suggests October has been generally bullish for Bitcoin, with a success rate of 83%. However, technical indicators present mixed signals as Bitcoin's momentum appears to be tapering off, with an Average Directional Index (ADX) approaching the borderline. The Relative Strength Index (RSI) is at 61, close to the overbought territory. Fundamental factors support the current rally, including macroeconomic conditions favorable for crypto and improved regulatory clarity. Bitcoin dominance is increasing, reflecting institutional preference. Potential risks include regulatory uncertainty and macroeconomic shifts. The outlook for October could see Bitcoin maintaining its level or aiming for higher prices, but a consolidation phase may also occur for market stabilization.

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