What happened?
Crypto markets rallied even while the U.S. government was shut down, with Bitcoin briefly topping $121,000 and major tokens like BNB hitting an all-time high above $1,000. Ethereum climbed toward $4,400 and Solana pushed past $224 as the so-called “Uptober” momentum drove buying across the sector. Overall the session showed strong bullish sentiment despite macro uncertainty.
Who does this affect?
This move matters most to crypto investors and traders who saw big gains and heightened volatility in their portfolios. Institutional investors and funds watching for macro triggers may restart allocations, while retail traders could face increased FOMO and risk. Exchanges, token projects, and on-chain services also benefit from higher volumes and attention.
Why does this matter?
The surge can pull more capital into crypto and push market valuations higher, changing risk pricing across digital assets. Higher prices and volumes increase liquidity but also raise the chance of sharp corrections if sentiment shifts, so risk management becomes more important. If the rally continues it could accelerate institutional adoption and influence how traditional markets view crypto as part of broader risk-on flows.