TL;DR
- October is historically a bullish month for Bitcoin, with an average increase of 22.9% over the past few years.
- Although Ethereum also tends to perform well, its average return in October is 5%, although there has been an increase in the purchase of call options.
- October is expected to be a big breakout month for Bitcoin, especially with the US elections and a steady flow of spot ETFs.
October has arrived and with it, the expectation of a possible significant increase in the cryptocurrency market.
Historically, this month has proven to be favorable for Bitcoin, which has achieved an average increase of 22.9% in eight of the last nine years, according to data from the latest QCP Broadcast report.
This pattern could lead BTC to break the $78,000 barrier, reaching new all-time highs.
In contrast, although Ethereum has also performed positively in October, its average return has been considerably lower, around 5%.
However, interest in Ether call options has grown noticeably in recent hours, which could suggest a change in this trend.
In the current context, Bitcoin has been fluctuating within a range of $60,000 to $70,000 for the past eight months.
The question many are asking is whether October will be the month we finally see a significant breakout.
Market expectations are high, especially with the US elections just around the corner.
This event could influence investors decision-making, which in turn could impact cryptocurrency prices.
Additionally, spot ETF flows remain positive, indicating sustained interest in digital assets.
The perpetual funding rate is reaching levels reminiscent of the peaks of the first bull wave this year.
Optimism in the Derivatives Market like Ethereum
Optimism is not limited to Bitcoin alone.
Despite its more modest performance, Ethereum is attracting the attention of derivatives traders.
There has been a significant increase in the purchase of ETH call options for their October expiration.
This suggests that investors are betting that Ether will surpass certain price levels in the near term.
Call options are a tool that allows traders to speculate on price increases, reinforcing the idea of bullish sentiment in the Ether market.
Analysts are keeping an eye on how events will unfold in October, a month that could not only define the course of Bitcoin, but also shape the future of Ethereum and other altcoins.
While history indicates that October is a favorable month for Bitcoin, the increased activity in Ether call options could offer unique opportunities for traders.
With a market environment that combines the possibility of a major breakout for Bitcoin and rising demand for Ether, October promises to be a month full of excitement and volatility for cryptocurrency investors.
The next few days will be crucial to determine whether these positive signs translate into real market performance.
