Morning Minute: Uptober Off to a Green Start
Crypto majors and alts are rallying to start October. What’s driving the early action and will it continue?
Bitcoin rallied to $86,500 on Sunday, up 2.07% on the day and 8.57% over the past month. Ethereum sits at $2,720, up 11.05% in thirty days. Nearly everything in the top ten is green. October is living up to its nickname (“Uptober”) so far.
The ETFs were also green. Spot Bitcoin funds took in $31.7 million day and $102.7 million Thursday, so $134.4 million for the month. That’s a two-day streak after September closed with a $148.7 million outflow.
The alt board shows where even more action is. Pump.fun leads the way for notable alts up 26.2% and LayerZero was up 19.8%. Sky and Aave are both up double digits on the week. Those aren’t meme coins, they’re protocols that make money, and most of them run buyback programs. The SEC said eight days ago that buying back your own token doesn’t make it a security as long as the network works. Now it’s easier than ever for investors to buy into the revenue-generating protocols.
Where does this leave us? The gains are real and they’re spreading past Bitcoin. The quietest week for ETF flows in a month is the one where almost everything went up. So it’s more likely crypto-native funds driving this recent price action rather than institutions.
And today is a very interesting day, as the historic 4-year cycle pattern would bottom today based on the Oct 6, 2025 ATH and a 364-day top-to-bottom timeline (played out the past 2 cycles exactly). So if there are no massively negative events today and/or this week, the last remaining bears will be forced to capitulate. And the bull market will officially be on…
