BTC Pushes Higher
October (often referred to as “Uptober” within the crypto community) has so far proven its legacy as a highly successful period for the primary digital asset. The price has been gradually increasing since the first day of the month, and it reached $123,850 several hours ago.
This means that BTC was just inches away from reaching its all-time high of $124,130, which was witnessed in mid‑August. In the following hours, the asset lost some steam, and as of this writing, it trades at roughly $122,400.
The cryptocurrency community is highly optimistic that the asset may set a new record in the short term, while certain indicators reinforce these expectations. As CryptoPotatoreported, the latest rally is supported by the rising share of long‑term holders (LTHs), signaling growing confidence among that group of investors.
Meanwhile, the market capitalization of BTC has temporarily spiked to almost $2.5 trillion, thus surpassing Amazon and becoming the seventh‑biggest asset in the world. The figure later slightly retraced to $2.43 trillion, whereas Bitcoin’s dominance over the altcoins stands at around 55.8%.
These Alts are Also on Fire
Numerous altcoins have charted even more impressive gains than BTC over the past 24 hours. OKB (OKB) exploded by 20%, Aster (ASTER) soared by 13%, while Immutable (IMX) jumped by 10%.
Binance Coin (BNB) spiked by 7% to hit a new all‑time high of almost $1,200, whereas other well‑known cryptocurrencies, including Avalanche (AVAX), Litecoin (LTC), and Shiba Inu (SHIB), have registered more modest increases of around 2‑3%.
Ripple (XRP), Dogecoin (DOGE), and Tron (TRX) are in the opposite corner, experiencing minor declines. The total market capitalization of the sector has spiked by 1.7% and stands at just under $4.3 trillion.
