- BTC is trading at $120,075
- ETH price stands at $4,485
- The crypto market cap has risen to $4.13 trillion
The crypto price chart brimmed with profits on Friday, October 3. Bitcoin price rose by nearly two percent in the last 24 hours to trade at $120,075 on Friday. This represents a massive jump for the asset that was retailing within the range of $109,000 and $114,000 throughout September. As per CoinMarketCap, in the last seven days, BTC price has expanded to nearly 10 percent.
Market analysts credited multiple factors, such as the ‘Uptober’ sentiment, the impact of the US government shutdown, whale inflows, and the weak ADP employment report for pushing the rally. Owing to BTC’s price movement, JPMorgan analysts have reportedly predicted that BTC could hit $165,000 by the end of the year.
“In this week alone, Bitcoin ETFs recorded net inflows of over $1.6 billion while corporates like Metaplanet bought 5000 BTC, adding strength to the rally. If BTC breaks past $123,200, it could enter price discovery, making way for new highs,” Edul Patel, the CEO of Mudrex told CoinHeadlines.
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Ether joined Bitcoin in clocking small gains. In the last 24 hours, ETH reflected a profit of 1.80 percent to trade at $4,485. Ether’s seven-day pricing has risen by 13.8 percent, CoinMarketCap showed.
“Ethereum has reclaimed the $4,500 mark indicating that the crypto market is on a strong bullish momentum,” Patel added.
A majority of altcoins reflected profits next to most cryptocurrencies. Binance Coin (BNB) showed a stellar performance, hitting an all-time high hitting the $1,100 mark. As of Friday, the asset is trading at $1,099 after having clocked a gain of nearly six percent over the last day.
Solana, Dogecoin, Cardano, Dogecoin, Tron, and Cronos joined BTC and Solana in seeing profits. In addition, Polkadot joined Mantle, Monero, Uniswap, and Near Protocol also clocked gains over the last day.
Meanwhile, Chainlink and Hedera saw losses. Avalanche, Litecoin, Shiba Inu, Pepe, and OKB also clocked price dips, CoinMarketCap showed.
“While the rally is a powerful reminder of the pace and unpredictability of crypto markets, it’s an exciting milestone that reflects growing adoption and optimism, the liquidation of over 127,000 traders also shows how quickly sentiment can turn, especially for those who are overexposed or trading with high leverage,” Avinash Shekhar, the co-founder and CEO of Pi42 told CoinHeadlines.
The overall crypto market cap rose by 1.60 percent in the last 24 hours to claim the valuation of $4.13 trillion. The fear and greed index score presently stands at 57 — indicating at a neutral sentiment among traders.
For investors and traders alike, this moment calls for discipline over emotion. Experts have strongly suggested against chasing rallies blindly, and avoid the temptation of excessive leverage.
