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Bitcoin Price Today: Rise to $120K Amid Seasonal Optimism
Bitcoin is trading at a seven-week high near $120,000 on Friday, showing solid weekly gains as seasonal “Uptober” optimism and expectations of increased liquidity following the US government shutdown boosted sentiment.
The world’s largest cryptocurrency rose 1.2% to $120,052.2 as of 9:20 a.m. Moscow time, reaching its highest level since mid-August. On Thursday, the token briefly climbed above $121,000.
Bitcoin has rebounded nearly 10% this week after a late September selloff triggered by a wave of liquidations that wiped out billions in leveraged positions.
Last week, more than $20 billion worth of crypto derivatives positions were liquidated, deepening the selloff before large buyers stepped in.
Bitcoin Rebounds on “Uptober” and Potential Liquidity Boost from US Government Shutdown
Historically, October has been one of the strongest months for Bitcoin, a trend crypto investors refer to as “Uptober.”
This year, seasonal optimism is supported by steady inflows into US spot Bitcoin ETFs and expectations of easing macroeconomic conditions.
The looming US government shutdown is also seen as a potential catalyst for a short-term liquidity boost.
A shutdown could delay the release of key economic data and restrict Treasury operations, which some investors believe could redirect liquidity into alternative assets, including cryptocurrencies.
However, a prolonged shutdown could complicate Federal Reserve policy outlooks by depriving it of key economic indicators, potentially increasing market volatility.
CME to Launch 24/7 Trading of Crypto Futures and Options
CME Group Inc (NASDAQ:CME) said on Thursday it will offer round-the-clock trading of its crypto futures and options starting in early 2026, pending regulatory approval.
The move aims to meet rising client demand for continuous trading, the exchange operator said in a statement. Trading will run non-stop on CME Globex with a brief weekly maintenance break.
CME’s crypto products have seen record activity this year, including $39 billion in notional open interest in September and a 230% year-over-year increase in average daily volume in August, the company highlighted.
Crypto Prices Today: Altcoins Show Moderate Gains While Staying in Range
Most altcoins also extended gains on Friday but remained range-bound amid macroeconomic concerns.
The second-largest cryptocurrency, Ethereum, rose 1.8% to $4,482.92.
The third-largest cryptocurrency, XRP, gained 1.6% to $3.02.
Solana climbed 3%, while Cardano traded flat. Polygon slipped 0.5%.
Among meme tokens, both Dogecoin and $TRUMP remained nearly unchanged.
See also: "Artificial Intelligence Predicts Bitcoin Price for October 31, 2025"
