“Uptuber”, the word play on the historically bullish month of the October crypto, is so far up to its name as Bitcoin Pushed to new peaks of all time and altcoins have also caught an offer.
After briefly overthrowing $ 125,000 and withdrawing on Sunday, BTC followed on Monday, reaching a new record of $ 126,223 during the American negotiation session. BTC has changed hands approximately $ 125,200 recently, up 1.5% in the last 24 hours.
While the weakness of the dollar has helped the rally to new peaks, the largest crypto has now won new heights in euros by crossing EUR 106,000 and exceeding its peak in January, while breaking its peak in mid-August in Swiss Franc (99,642 CHF), according to tradingview data.
Bitcoin’s strength extends to the cryptography market. Etherum ether Advanced 4% to reach $ 4,700, its highest price in more than three weeks, which led the Coindesk 20 index on a large market. Popular same and the native token of the layer of layer 1 BNB Closely linked to the giant binance exchange, gained 6% to 6%.
Crypto’s actions posted mixed results on Monday, the Robinhood retail platform (Hood) falling 3% after Galaxy Digital unveiled Galaxyone, a new cryptographic trading platform that reflects Robinhood’s basic offer. The announcement sent Galaxy Digital (GLXY) to 7%shares, while investors were betting on the company’s decision to compete directly in the crypto brokerage space.
Elsewhere, companies linked to the crypto, including Coinbase (Coin), Circle (CRCL) and the strategy of the parent company of Michael Saylor (MTSR), all closed about 2%. Their performances were aligned with wider gains on the cryptography market, where the Coindesk 20 index has shown that most cryptos have experienced modest increases.
The biggest gains came from mining actions, which made a news of the news that Optai has concluded an agreement to buy tens of billions of dollars in AI chips in AMD. The agreement could give OPENAI up to a 10% stake in the flea manufacturer, a decision that has sent undulations to other sectors exposed to AI.
Digital marathon (Mara), Riot Platforms (Riot) and Cleanspark (CLSK) each won around 10%, fired by optimism around the data center demand and possibly increased by the Bitcoin rally earlier in the day.
Perfect storm for BTC
The Bitcoin rally is “powered by a perfect storm of macroeconomic tail winds,” said Jean-David Péquignot, CCO de Deribit, the place of trading of options which was recently acquired by Coinbase (Coin).
The closure of the United States government stimulates the discussions of discharge from perceived hard assets such as gold and BTC, strong BTC ETF entrances coupled with rejoicing punctures on exchanges feed a “cycle of self-reinforcing bulls”, he said in an update on Monday.
The techniques also point higher, he added, with a double-term BTC-bottomed rupture pointing to short-term targets from $ 128,000 to $ 130,000, with a possible advantage at $ 138,000. However, he also warned of the currently excessive conditions, which suggests that a brief shake at $ 118,000 to $ 120,000 remains possible.
“From here, watch the peaks of volatility and any change of power volume as a red flag for short -term corrections,” said Péquignot. “Bulls have your eyes on $ 130,000 and more, and bears could find opportunities in excessive pressures.”
