Bitcoin extended its rally on Tuesday, climbing above $114,000 as seasonal optimism and renewed whale buying boosted sentiment after last week’s outflows.
The world’s largest cryptocurrency rose 2.1% to $114,007 by 02:12 ET (06:12 GMT), after briefly touching $114,776 in the past 24 hours. The rebound comes after Bitcoin fell below $109,000 last week amid heavy liquidations linked to the September quarter-end options expiry.
Market optimism is also being fueled by “Uptober” — a term used to describe October’s history of strong returns. Historically, Bitcoin has gained an average of more than 20% during the month. On-chain data also showed renewed accumulation from whales, adding further support to the rally.
Still, broader sentiment remains cautious. Investors are closely watching political developments in Washington as U.S. lawmakers face a midnight deadline to avoid a government shutdown. A closure could delay key economic reports, including Friday’s nonfarm payrolls data, increasing uncertainty in financial markets.
Meanwhile, Bloomberg reported that Vanguard Group is considering allowing cryptocurrency exchange-traded funds (ETFs) on its platform. The move would mark a shift from its traditionally restrictive stance on digital assets. If approved, more than 50 million Vanguard clients, with around $11 trillion in assets, could gain access to Bitcoin and Ether ETFs managed by other firms. Vanguard said it is continuously reviewing investor demand and regulatory changes but has not yet made a decision.
Altcoins traded mixed. Ethereum rose 2% to $4,182, while XRP gained 1% to $2.90. Solana added 0.8% and Cardano rose 0.6%. Polygon slipped 1%. Meme tokens underperformed, with Dogecoin falling 0.6% and $TRUMP down 1.5%.
