Bitcoin Hits New All-Time Highs Amid October Surge
- Bitcoin (BTC) surged to a record price of $126,223 during U.S. trading, marking a rise of 1.5% in the last 24 hours.
- In euro terms, BTC surpassed €106,000 and exceeded its January peak, while also breaking its mid-August peak in Swiss francs at CHF99,642.
- Ethereum (ETH) rose by approximately 4%, reaching $4,700—the highest price in over three weeks.
- Popular memecoin Dogecoin (DOGE) and Binance Coin (BNB) both gained around 6% each.
- Mining stocks like Marathon Digital and Riot Platforms increased by about 10%, driven by optimism in the AI chip market.
The recent rally is attributed to macroeconomic factors including weak dollar performance and strong inflows into Bitcoin ETFs, contributing to a “self-reinforcing bull cycle.” Analysts suggest that BTC could target $128,000–$130,000 in the short term but warn of potential corrections due to overbought conditions.
As Bitcoin reached new heights at $126,223 and Ethereum climbed to $4,700, the crypto market reflects significant bullish momentum this October.(Source)
