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Investing.com-- Bitcoin extended gains on Tuesday, rising above $114,000, as seasonal tailwinds and signs of renewed buying by large holders lifted sentiment after recent outflows.
The world’s largest cryptocurrency climbed 2.1% to $114,007.8 by 02:12 ET (06:12 GMT), after reaching as high as $114,776 in the last 24 hours.
Bitcoin rebounds on ’Uptober’ optimism, whale buying
Bitcoin had dropped below $109,000 in the previous week amid a wave of heavy liquidations and selling pressure, which was aggravated by huge options expiry for the quarter ending Sept 30.
Reports cited “Uptober” seasonality – a reference to October’s history of strong returns – as adding to optimism before the start of the month. Bitcoin has historically seen gains averaging over 20% for October.
On-chain data pointed to fresh accumulation by so-called whales, further lending support to crypto markets.
Broader sentiment, however, remained cautious as investors tracked political developments in Washington. U.S. lawmakers have until Tuesday midnight to approve funding and avert a government shutdown.
The impasse has raised concerns that delays in key economic data releases, including Friday’s nonfarm payrolls report, could add to uncertainty in financial markets.
Vanguard mulls allowing crypto ETFs on its platform – Bloomberg
Vanguard Group is weighing whether to allow trading of cryptocurrency-focused exchange-traded funds on its platform, Bloomberg reported on Monday, marking a possible softening of its restrictive stance on digital assets.
If approved, the shift would give Vanguard’s more than 50 million investors, with about $11 trillion in assets, access to Bitcoin and Ether ETFs managed by other firms.
Vanguard said it is continuously evaluating investor preferences and regulatory developments, though no decision has been made yet, according to the Bloomberg report.
Crypto price today: most altcoins subdued; memecoins fall
Most altcoins also gained but remained in tight ranges. World no.2 crypto Ethereum rose 2% to $4,182.75.
World no. 3 crypto XRP gained 1% to $2.90.
Solana added 0.8%, and Cardano rose 0.6%, while Polygon fell 1%.
Among meme tokens, Dogecoin fell 0.6%, while $TRUMP retreated 1.5%.