October is off to a dramatic start, signaling a potential explosive finish for the crypto economy.
Crypto Wrap: BNB, ETH Lead Altcoin Rally as BTC Posts 11% Weekly Gain
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Bitcoin Mounts Stunning Recovery, Nearing All-Time High
The dramatic start to October is signaling a major shift in momentum, suggesting the crypto economy is poised for an explosive finish to the month. As the first three trading days have confirmed, bitcoin (BTC) and some altcoins are not only demonstrating significant upside potential, but are fiercely attacking resistance levels and appear primed to validate the most ambitious year-end price targets set by market analysts.
Having launched the week below the crucial $110,000 threshold, BTC mounted a stunning recovery, surging to within just $1,000 of its all-time high of $124,517 by Oct. 3. While the cryptocurrency subsequently faced predictable profit-taking, retreating slightly to just under $122,000 24 hours later, the initial rally secured double-digit (11.4%) weekly gains.
This performance has fueled consensus among analysts that the potent “Uptober” narrative is strong enough to propel BTC through resistance and establish a definitive new all-time high before any sustained bearish pressure can take hold.
Top Altcoins Post Double-Digit Gains
The story was similar for several high-cap altcoins, including ethereum ( ETH) and BNB, which also posted double-digit gains over seven days. For ETH, the “Uptober” sentiment helped it reclaim the $4,500 mark for the first time since Sept. 19, pushing its market capitalization back above $500 billion.
BNB, on the other hand, had an even better start to the month, rising from approximately $1,000 on Oct. 1 to peak at $1,189 on Oct. 4—a gain of nearly 20%. Although it retreated to $1,147 later that day, some experts predict BNB will soon surpass $1,200 and potentially topple XRP and USDT in market ranking.
Other high-cap altcoins that saw double-digit weekly gains include SOL (up 12.3% to $226), SUI (up 11.6%), and LTC (up 13.8%). Top gainers in the week include ZEC, which rose by 208% from under $56 on Sept. 27 to $167 by Oct. 4. However, the privacy coin was only the fifth-best performer overall. CLASH was the clear leader, soaring 935%, followed by AIA (876.8%) and META (268.0%).
On the losing side, MYX had the steepest losses after dropping 62.9%, followed by MIRA (down 49.7%) and WXPL (down 44.8%).
