Why is Crypto Up Today? Let’s Dive In
TLDR
- The crypto market cap jumped $175 billion to reach $4.03 trillion, driven by the US government shutdown and weakening USD as investors hedge against dollar weakness.
- Bitcoin is trading at $118,991, approaching its all-time high of $124,474, with key resistance at $120,000 and crucial support at $117,261.
- October’s historical bullish trend, known as “Uptober,” has boosted investor optimism and buying momentum across digital assets.
- Institutional inflows into Bitcoin spot ETFs are bringing hundreds of millions in new capital, supporting price gains and market stability.
- Altcoins including Ethereum, Solana, Dogecoin, Cardano, and Chainlink recorded strong 4-7% gains, increasing overall market participation.
The…
