The crypto market started with strength and the leading digital currency reached its highest peak since August. The operators trust that the historical pattern of revaluation this month be repeated.
The cryptocurrencies They maintain their upward trend in the first days of October. Bitcoin (BTC) Advance with caution after overcoming the previous day the barrier of the US $120,000its highest level since mid -August, according to Binance.
Among the Altcoins, Ethereum (eth) He holds his impulse and approaches US $ 4,500. Other digital assets such as XRP, Solana (Sol) and Bitcoin Cash (BCH) They record profits of between 2% and 4%. Meanwhile, Dogecoin (Doge), Cardano (ADA) and Tron (TRX) They operate with minimal variations.
At total level, The crypto market experiences a 1% rise in the last 24 hours. Market specialists interpret this rally as a sign that October could become a strongly bullish month for cryptocurrencies.
In fact, the market coined the term “UPTOBER” To refer to this phenomenon, since historically the tenth month of the year registered strong Bitcoin revaluation. This time, The macroeconomic context seems to support that hypothesis.
Clouds for the “Shutdown”
However, the scenario faces a risk factor: the United States government closurewhich will probably prevent the publication of the Official American Employment Report this Friday.
This absence of data deprives the Federal Reserve (Fed) of one of its main references In the face of the monetary policy meeting scheduled for October 28 and 29, especially considering the agency’s concern for the evolution of the labor market.
Given this situation, Investors direct their gaze to the figures that publish private signatures in search of signals on the state of the US economy. The most important case is that of the ADP consultancy, which a few days ago disseminated its monthly report, and where a deterioration of the US labor market was found.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
