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Bitcoin Saw 27% October Surge as Traders 'Panic Bought' Amid Bitcoin ETF Enthusiasm. Is $40,000 Next?

Krisztian Sandor

Oct 31, 2023

The boredom ended in October as cryptocurrency prices zoomed higher, with the biggest of them all, bitcoin (BTC), posting the strongest monthly rally since January as investors were abuzz with optimism that bitcoin ETFs will soon get approved in the U.S.
BTC gained more than 27%, springing to a 17-month high of $35,000 after hovering around the $27,000 level during the first half of October. It has recently resided just above $34,000 ahead of the Federal Reserve's interest rate decision on Wednesday, with market participants largely expecting policymakers to leave rates unchanged.

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