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Bitcoin Price Today: Rises Above $114K on "October Rally" Momentum and Whale Buying
Bitcoin extended its gains on Tuesday, climbing above $114,000 as seasonal factors and signs of renewed buying by large holders improved sentiment following recent outflows.
The world’s largest cryptocurrency rose 2.1% to $114,007.8 as of 09:12 (+03UTC), reaching a 24-hour high of $114,776.
Bitcoin recovers on "October Rally" optimism and whale accumulation
Last week, Bitcoin fell below $109,000 amid a wave of mass liquidations and selling pressure, which was intensified by the large quarterly expiry of options on September 30.
Reports noted that the seasonality of the "October Rally" — a reference to Bitcoin’s history of strong October returns — is adding optimism at the start of the month. Historically, Bitcoin has shown an average gain of more than 20% in October.
Blockchain analytics data point to renewed accumulation by so-called "whales," further supporting cryptocurrency markets.
However, overall sentiment remains cautious as investors watch political developments in Washington. U.S. lawmakers have until midnight Tuesday to approve funding and avoid a government shutdown.
The deadlock has raised concerns that delays in the release of key economic data, including Friday’s nonfarm payrolls report, could increase uncertainty in financial markets.
Vanguard considering allowing crypto ETF trading on its platform – Bloomberg
Vanguard Group is considering allowing trading of cryptocurrency-focused exchange-traded funds (ETFs) on its platform, Bloomberg reported Monday, signaling a potential softening of its restrictive stance on digital assets.
If approved, the change would give more than 50 million Vanguard investors with about $11 trillion in assets access to Bitcoin and Ethereum ETFs managed by other firms.
Vanguard said it continuously evaluates investor preferences and regulatory changes, though no decision has yet been made, according to Bloomberg.
Crypto prices today: most altcoins subdued; meme coins drop
Most altcoins also rose but remained in narrow ranges. The world’s second-largest cryptocurrency, Ethereum, gained 2% to $4,182.75.
The world’s third-largest cryptocurrency, XRP, rose 1% to $2.90.
Solana added 0.8%, Cardano gained 0.6%, while Polygon fell 1%.
Among meme tokens, Dogecoin dropped 0.6%, while $TRUMP declined 1.5%.
See also: "Bitcoin Price Today: Recovers to $112K with Whale Support"
