Bitcoin on Monday recorded a fresh all-time high just above $126,000 as cryptocurrencies continue their uptrend in the first week of October.

Notable Statistics:

• Coinglass data shows 147,328 traders were liquidated in the past 24 hours for $304.31 million.       
• In the past 24 hours, the top gainers include Starknet (CRYPTO: STRK), PancakeSwap (CRYPTO: CAKE) and Mantle (CRYPTO: MNT).

Notable Developments:

Trader Notes: Crypto trader Kaleo noted that historically, October is Bitcoin’s second most bullish month with an average gain of 15.33%, while November tops all months with an average surge of 40.33%.

The current BTC rally is still in its early stages.

Rekt Capital observed that Bitcoin’s Price Discovery Correction 2 has ended. While shallower than previous cycles, its duration mirrored 2017 and 2021. BTC is now positioned to enter Price Discovery Uptrend.

Traderview2 highlighted that each upward move in the ongoing grind has triggered clusters of short liquidations.

The perpetuals market remains bearish and unable to sustain the rally, whereas spot buying has been the main driver. Continued spot demand could force more shorts to cover, adding upward momentum.

Ted Pillows pointed out that Bitcoin has surged nearly 10% since the U.S. government shutdown, demonstrating that major negative events can sometimes spark strong bullish moves.

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