Bitcoin price surged 3% to above $116,500 at the start of Q4, signaling a strong ‘Uptober’ crypto market rally.
By Bhushan Akolkar
Editor Yana Khlebnikova
Updated
2 mins read
On October 1, the Bitcoin price has climbed above the $116,500 mark as global markets show strong gains. Gold reached a new all-time high of 3,890, while the NASDAQ also recorded upward momentum.
Amid the US government shutdown, market analysts predict that the Fed Chair Jerome Powell will take a more dovish stand. This could potentially fuel a rally across risk-on assets, such as US equities and cryptocurrencies.
Crypto analyst Michael van de Poppe highlighted Bitcoin’s resilience after a swift retest of the $112,000 level, which was followed by an immediate bounce. He noted that the strong price action signals bullish momentum as Q4 begins.
There has been a quick retest of the $112K region and an immediate bounce upwards.
Strong performance of #Bitcoin and I think that we're in for a bullish month and quarter.
Q4 has started, good times are ahead of us. pic.twitter.com/IyXsDR6tdU
— Michaël van de Poppe (@CryptoMichNL) October 1, 2025
According to van de Poppe, the outlook for both October and the broader quarter remains positive. He also added that Bitcoin is poised for continued strength in the months ahead.
As per the Polymarket data, there’s an 88% chance of Jerome Powell announcing a 25 bps Fed rate cut this month in October. The CME’s FedWatch tool indicates a nearly 95% likelihood.
Lower rates could increase the appeal of risk assets, including cryptocurrencies, to investors. Speaking to CoinDesk regarding the development, Dom Harz, co-founder of Bitcoin DeFi gateway BOB, said:
“Unlike previous years, this Uptober will see more targeted inflows, which could be a breakout moment in accelerating Bitcoin DeFi, as investors will want to do more with their Bitcoin holdings; transforming it from a static store-of-value into a yield-bearing asset class.”
Bitcoin’s recent surge in strength coincided with gold reaching new all-time highs. Traders have long expected BTC/USD to mirror gold’s performance. Crypto experts believe that the eight-week delay in Bitcoin following gold’s move may finally be ending.
$BTC in gold. pic.twitter.com/XhVxMk655A
— HTL-NL 🇳🇱 (@htltimor) October 1, 2025
Furthermore, in a landmark decision, President Trump’s administration has addressed the CAMT (Corporate Alternative Minimum Tax) issue, which previously threatened unrealized gains on Bitcoin. Officials say the move paves the way for the United States to strengthen its position as a leading global hub for Bitcoin innovation.
The Trump administration’s Treasury just delivered for American innovation—fixing the CAMT problem that threatened unrealized gains on Bitcoin.
This leadership clears the way for the U.S. to become the world’s #Bitcoin superpower. 🇺🇸
Thank you @USTreasury & @realDonaldTrump.
— Senator Cynthia Lummis (@SenLummis) September 30, 2025
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
