The price of Bitcoin (BTC) is up to start October, rising alongside stocks.
In early trading on Oct. 2, Bitcoin is trading at $86,350 U.S., having gained 2% over the past 24 hours.
Other cryptocurrencies such as Ethereum (ETH) and XRP (XRP) are also marching higher to begin the new month and year’s fourth quarter.
October has traditionally been the best month of the year for Bitcoin and other digital assets, leading some analysts and investors to call the month “Uptober.”
Crypto is in positive territory along with other risk assets such as stocks as crude oil prices and bond yields that had been pressuring markets retreat.
After steadily rising in September, both oil prices and U.S. Treasury yields are declining at the outset of October.
Crude prices are back below $100 U.S. a barrel on reports that Europe is weighing a release of their diesel and oil reserves.
And bond yields have pulled back after a soft inflation report in the U.S. lowered expectations for another interest rate hike from the Federal Reserve.
Markets are now pricing in a 25% chance that the U.S. central bank raises interest rates at its Oct. 28 policy meeting. That’s down from 70% odds a week ago.
For Bitcoin, the strong start to October continues a hot streak for the largest cryptocurrency that began at the end of August this year.
In the third quarter, Bitcoin’s price rallied 42%, with most of that gain occurring in late August and early September.
It’s a big reversal for Bitcoin, which had been dragged down by a “crypto winter” that began in October 2025.
The price of BTC fell from $126,000 U.S. a year ago to a bottom of $58,000 U.S. in June of this year, before correcting and steadily rising.
Crypto was the top-performing asset in September, rallying as prices for stocks, bonds, and precious metals such as gold fell during the month.
Some analysts say they’re optimistic that Bitcoin and other digital assets have now entered a new bull phase.
