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Uptober underway: Bitcoin closes in on 7-week high at $120K

Bitcoin has surged by 4% to reach $119,450, marking its highest price in seven weeks as October's historically bullish trends take effect. This increase has prompted the total cryptocurrency market capitalization to rise by 3.5% to $4.16 trillion. Bitcoin has surpassed previous resistance levels and now faces the next hurdle at the $120,000 mark. Analysts suggest that the recent rise in Bitcoin's value is linked to expectations of potential rate cuts by the Federal Reserve, as signs of weakness in the labor market could lead to shifts in monetary policy. Additionally, the CME futures market predicts a 99% chance of a 0.25% rate cut in the upcoming Federal Reserve meeting. Other cryptocurrencies, including Ethereum, Solana, and Dogecoin, have also reported significant increases, indicating an overall positive market sentiment as October, historically favorable for Bitcoin, commences.

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Crypto treasuries may soon start gobbling each other up

Digital asset treasury companies are predicted to consolidate under larger players as the market matures, according to Coinbase’s head of investment research, David Duong. With strategies to attract investors, firms may increasingly pursue mergers and acquisitions, similar to the recent Strive and Semler Scientific deal. Duong noted that companies

Crypto treasury ‘bubble’ fears overblown: TON Strategy CEO

According to TON Strategy CEO Veronika Kapustina, while there are early signs of a bubble in corporate digital asset treasuries (DATs), the long-term outlook remains positive as the market matures. Speaking at the Token2049 conference in Singapore, she acknowledged that indicators suggest a bubble but noted that this sector is

XRP, DOGE Zoom Higher as U.S. Shutdowns, Japan Bond Slowdown Charge Bitcoin Appetite

As the U.S. government faces a shutdown and Japan’s bond market experiences stress, digital assets have shown resilience, with traders anticipating looser global liquidity conditions. Bitcoin traded close to $118,700, gaining over 3% recently, while ether rose by 5.6%. Notably, dogecoin surged nearly 9%, extending its

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