Historically, October, which is referred to by the cryptocurrency community as "Uptober", is indeed a bullish month for digital assets, as it often sees the beginning of strong bull markets.
Previous data indicates that the price of Bitcoin has experienced the start of five major bull markets during October over the past years. Additionally, the strong performance that Bitcoin shows in September often paves the way for continued upward momentum through October.
In addition to the historical factor, improving broader market sentiment and increased liquidity typically contribute to enhancing this positive performance. This year, "Uptober" coincides with expectations of decisions from the U.S. Securities and Exchange Commission (SEC) regarding exchange-traded funds for alternative cryptocurrencies, which could amplify the impact of the season.
