Bitcoin surged to a seven-week high on Thursday<\/strong>, lifted by seasonal \u201cUptober\u201d momentum and expectations that the ongoing U.S. government shutdown could inject fresh liquidity into crypto markets.<\/p>\n\n\n\n The world\u2019s largest cryptocurrency rose 3.7% to $118,481.5 by 02:10 ET (06:10 GMT)<\/strong>, briefly breaking above $119,000<\/strong> for the first time since mid-August.<\/p>\n\n\n\n The rally is partly attributed to \u201cUptober,\u201d a term blending \u201cup\u201d and \u201cOctober,\u201d which reflects a historical seasonal bias toward strong crypto gains during the month. Early-month rallies often create a psychological boost for traders, reinforcing bullish sentiment.<\/p>\n\n\n\n Oversold conditions from late September, following a wave of forced liquidations, set the stage for the rebound. Large investors and institutional funds stepped in to absorb selling pressure, further fueling confidence.<\/p>\n\n\n\n Another key catalyst has been the partial shutdown of the U.S. federal government<\/strong>, which began this week after Congress failed to approve a stopgap funding bill.<\/p>\n\n\n\n The closure is expected to delay major economic data releases<\/strong>, including Friday\u2019s crucial nonfarm payrolls report. With fewer official data signals to guide policy, markets anticipate the Federal Reserve could turn more cautious, potentially leaning toward a looser stance.<\/p>\n\n\n\n Some analysts suggest that money flows could spill into functioning markets, with Bitcoin positioned as a natural beneficiary amid uncertainty.<\/p>\n\n\n\n The Bitcoin rally spilled over into the broader crypto space:<\/p>\n\n\n\n Bitcoin surged to a seven-week high on Thursday, lifted by seasonal \u201cUptober\u201d momentum and expectations that the ongoing U.S. government shutdown could inject fresh liquidity into crypto markets. The world\u2019s largest cryptocurrency rose 3.7% to $118,481.5 by 02:10 ET (06:10 GMT), briefly breaking above $119,000 for the first time since mid-August. Uptober Optimism Builds Momentum …<\/p>\n","protected":false},"author":9,"featured_media":98301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[],"class_list":["post-119475","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=119475"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119475\/revisions"}],"predecessor-version":[{"id":119476,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119475\/revisions\/119476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98301"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=119475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=119475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=119475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Uptober Optimism Builds Momentum<\/h4>\n\n\n\n
U.S. Government Shutdown Seen as Liquidity Driver<\/h4>\n\n\n\n
Altcoins Ride the Wave; Dogecoin Surges<\/h4>\n\n\n\n
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