September has been a turbulent month for the crypto market as multiple liquidations forced top assets, including Bitcoin and Ethereum, to trade in the red. As September gradually folds up, we briefly recap how the crypto market is currently faring and what to expect in October.Â
Crypto Market Prepares For A Bullish Entry Into October
According to asset tracker Coingecko, the crypto market is gradually picking up steam as Bitcoin shoots above 112,000, signaling a bullish trend among other assets, including Ethereum, which surged above the $4,000 mark. Solana also pushed above the $200 mark, and XRP exchanges hands at $2.86.
As the crypto market prepares to end September on a bullish note, many are optimistic that the trend will roll over into October and likely break into a rally due to the Uptober trend. Another reason behind the bullish sentiment is the impending approval of 16 Spot Crypto ETFs, which are awaiting US SEC approval in October.Â
The spot ETFs applications are spread across several major altcoins, including XRP, Solana, Litecoin, ADA, Dogecoin, and HBAR. Last month, Bitfinex analysts speculated that the approval of more spot ETFs could spark a new altcoin rally. Thus, many in the crypto market highly anticipate a bullish trend in October.
What To Expect In October
With the stage set, we can expect a rollercoaster October with the impending ETFs approval and the highly anticipated Uptober trend. However, despite the positive sentiment among crypto enthusiasts, it is important to note that cryptocurrencies are volatile assets and can, as such, move in a totally different trajectory. Thus, we wait to see how events unfold in the coming weeks.
