SUI Rises Another 6%, BTC Price Struggles To $64,000 As Uptober Begins (Market Watch)

The historically bullish month for bitcoin has begun, with the asset recovering from a price drop below $63,000 today to hover near $64,000.

Ripple and Dogecoin have seen some notable losses over the past 24 hours, while SUI, NEAR and UNI are well in the green.

BTC enters Uptober

While many expected September to be a bearish month for BTC given its historical performance, the cryptocurrency closed out the 30-day period with the most gains since records were kept. As such, the community has now focused on October, which is the second most successful month for the asset.

Bitcoin’s gains during September peaked over the previous weekend when it jumped to $66,500. That became its highest price in nearly two months, but it failed to sustain its momentum.

It lost some traction Saturday evening and Sunday, but the real correction came Monday and Tuesday morning. Bitcoin initially dipped as low as $64,250, but bears pushed it south to below $63,000 earlier today.

It has managed to bounce around a thousand, but is still trading for less than $64,000. That means its market cap has shrunk to $1.263 trillion, while its hold on the highs has dropped to 53.4% ​​at CG.

Bitcoin/Price/Chart 01.10.2024. Source: TradingView SUI up 6%

Most of the larger cap alternatives have followed BTC with minor pullbacks today. BNB, TON, ADA, AVAX, SHIB, LINK and BCH have seen negligible losses, but XRP and DOGE are down more than 3% daily.

On the other hand, NEAR, UNI, FET and AAVE have increased by around 3%. SUI has emerged as the best performer of the 36 largest alternatives, having gained 6% since yesterday. This has pushed its price to a multi-month high of over $1.85.

Even more impressive gains came from POPCAT (11%), WIF (8%), FTM (8%) and HNT (8%).

The total crypto market capitalization has remained essentially where it was yesterday at $2.370 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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