Bitcoin climbed to a six-week high as inflows picked up at the start of October, a month that has typically seen gains in the token.
Smaller peers including Ether, Litecoin and Solana also rallied. The advance came as traders await the trial of Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, which is scheduled to begin Tuesday.
The rally is expected to continue in October, typically a positive month for crypto markets, with $30,000 seen as the next major resistance level for Bitcoin, she said. The rally was also been helped by speculation the US Securities and Exchange Commission will eventually approve BlackRock Inc.’s Bitcoin ETF proposals, even though the regulator deferred the decision last week, said Hayden Hughes, co-founder of social-trading platform Alpha Impact.
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