Bitcoin Breaks $116K as Uptober Kicks Off

Bitcoin surged past $116,000 on October’s first day, marking the start of “Uptober.” Ether also rallied, while U.S. crypto stocks saw strong pre-market gains.

Bitcoin and Ethereum rally in October start

The long-anticipated “Uptober” has begun with momentum. Bitcoin broke through $116,000, gaining 2% in 24 hours and briefly touching $116,600. The rally comes amid a looming U.S. government shutdown and record gold prices near $3,900, highlighting investor appetite for alternative assets.

Ether followed with a nearly 4% increase, trading around $4,287. Analysts note October has historically been bullish for crypto, and the early surge suggests strong demand could continue in the weeks ahead.

U.S. crypto equities surge pre-market

The rally spilled over into crypto-linked stocks. Strive (ASST) soared 25% to $3.15, while MicroStrategy (MSTR), widely considered a leveraged bet on Bitcoin, rose over 2% to $328. Mining firm Bitfarms (BITF) gained 3% to $2.91, and Kindly MD (NAKA) jumped 7%.

October’s kickoff shows renewed optimism across both digital assets and crypto equities. Investors are watching closely as Uptober could fuel further rallies in BTC, ETH, and crypto-related stocks.