Bitcoin Breaks Higher as ‘Uptober’ Turns Into a Battle Between Bulls and Skeptics

Bitcoin

Bitcoin Breaks Higher as ‘Uptober’ Turns Into a Battle Between Bulls and Skeptics

The month that crypto traders affectionately call “Uptober” is living up to the hype. Bitcoin has roared back above $123,000, its strongest level in weeks, reigniting speculation that a new record could be within reach.

The rally comes at a time when U.S. markets are clouded by political dysfunction and data silence from Washington’s ongoing government shutdown. Yet Bitcoin seems to thrive on that chaos. Traders point to its resilience amid the turmoil as proof that decentralized assets are maturing into a genuine alternative to fiat systems shaken by uncertainty.

Institutional Signals Emerge From Wall Street

Adding fuel to the bullish fire, JPMorgan released a report projecting that Bitcoin could climb toward $165,000 before the end of 2025. The bank’s analysts said the asset remains undervalued compared to gold and continues to draw institutional capital as a safeguard against weakening national currencies.

The analysis helped reinforce a narrative long held by Bitcoin advocates – that digital scarcity is the modern answer to inflationary pressure. The report’s timing, coinciding with the shutdown and looming tariff threats, has only amplified that view.

A Divided Market Mood

Not everyone sees blue skies ahead. Alex Blume, head of the advisory firm Two Prime, cautioned that Bitcoin’s latest leg higher might not be as organic as it looks. He characterized the move as a “liquidity wave” rather than a true demand-driven breakout. Still, Blume admitted that with rate cuts on the horizon and global money supply expanding, Bitcoin remains well-positioned to outperform in a low-yield environment.

Crypto Market Follows Bitcoin’s Lead

Ethereum, often seen as the market’s sentiment gauge, climbed roughly 9% over the past week to reach $4,500 – a level it hasn’t tested since early summer. Other large-cap coins also bounced, extending the optimism that usually defines October trading seasons.

The narrative of “Uptober” has become self-fulfilling: each upward move draws new buyers, each headline sparks more momentum. Whether this surge matures into a sustainable bull run or fades into another temporary high will depend on whether the $123,000 zone becomes a springboard – or a ceiling.


The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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Author

Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.

Source: https://coindoo.com/bitcoin-breaks-higher-as-uptober-turns-into-a-battle-between-bulls-and-skeptics/