Bitcoin and cryptocurrency prices powered higher to start the week as the U.S. faces a potential government shutdown starting on Oct. 1.
The price of bitcoin on Monday rebounded above $114,000, with about a 3.6% gain over the past 24 hours. Bitcoin had tumbled below $109,000 on Friday, following a major liquidation wave from Sept. 22.
The price of bitcoin on Monday rebounded above $114,000, with about a 3.6% gain over the past 24 hours. Bitcoin had tumbled below $109,000 on Friday, following a major liquidation wave from Sept. 22.
The world's top cryptocurrency has rallied 22% so far this year.
Ethereum surged 3.5% over the prior 24 hours to trade near $4,180 on Monday, pushing its 2025 gain to roughly 25%.
Crypto stocks rallied on the day, with Coinbase and Circle Internet Group jumping 6% and 5%, respectively.
CleanSpark and Mara Holdings led bitcoin miners, both surging 14%.
Riot Platforms, Iren, Hive Digital, Bitfarms and Bit Digital saw gains range from 11% to 7%.
TeraWulf, Cipher Mining and Bitdeer Techs swung more than 5% higher on Monday.
Bitcoin treasury company Strategy climbed almost 5%.
October Uptrend?
Meanwhile, Joel Kruger, analyst at LMAX Group, told CoinDesk that bitcoin is about to benefit from a seasonality boost heading into October.
October has historically been among bitcoin's best performing months, with the cryptocurrency averaging a 22% gain during the month since 2013. November sees even greater returns, averaging 46% growth during that same period, according to Kruger.
"Against the backdrop of a landmark year for crypto — marked by significant advances in adoption and regulation — these seasonal tailwinds could set the stage for bitcoin to challenge and even surpass previous record highs before year-end," Kruger said.
More Crypto ETFs Incoming
Elsewhere, the Securities and Exchange Commission has asked crypto exchange-traded fund (ETF) issuers to withdraw their 19b-4 filings, which paves the way for a faster approval process, CoinDesk reported Monday.
The SEC in mid-September approved rule changes that allow for generic listing standards for crypto and spot commodity ETFs. Prior to the decision, the regulator handled spot crypto ETF filings on a case-by-case basis, with separate filing requirements for both the exchange and asset manager that needed approval.
Now, if an ETF or exchange-traded product (ETP) meets generic listing standards, the exchange must post information on its website regarding the ETP within five days after trading launches.
"The streamlined listing process will benefit investors, issuers, other market participants, and the Commission by reducing the time and resources required to bring new ETPs to market," SEC Commissioner Hester Peirce wrote in the release.
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