Crypto Markets Bounce Back as Bitcoin Climbs Above $114K Ahead of ‘Uptober’ – 29/9/2025

Following last week’s sharp sell-off, crypto markets are regaining ground, tracking gains in stocks and gold.

A weekend rally extended into U.S. Monday trading, with Bitcoin (BTC) reclaiming $114,000 after dipping below $109,000 last Friday. The rebound suggests that crypto traders are responding to the same macroeconomic factors—primarily lower interest rates in Western markets—that have been pushing gold and major stock indexes to new record highs. Seasonal dynamics may also be at play, as investors shift focus from historically weak September performance to October, often dubbed “Uptober” due to its tendency for gains.

Other major cryptocurrencies—including Ethereum (ETH), XRP, and Solana (SOL)—have all gained roughly 4% over the past 24 hours. Gold rose 1.2%, hitting a fresh record above $3,850 per ounce, while the Nasdaq advanced 0.8%.

Crypto-focused stocks also saw significant rebounds. Coinbase (COIN) and stablecoin issuer Circle (CRCL) climbed 5.7% and 7.7%, respectively. Mining and AI-focused firms experienced notable gains as well: IREN and Cipher Mining (CIFR) both rose 4%, while MARA Holdings (MARA), with a heavier emphasis on bitcoin mining, surged 8%.

Paul Howard, senior director at trading firm Wincent, described the bounce as expected despite some macro uncertainty. “Institutional and retail support emerged at $110,000 from those who missed BTC at the $100,000 level,” he said. “Downside risk remains until a clearer macro catalyst emerges in the coming weeks.”

Traders are watching the Friday jobs report for insight into the labor market, though a potential government shutdown could delay its release, forcing the Federal Reserve to hold its next policy meeting on Oct. 28–29 without key economic data.

Seasonality Could Boost Bitcoin in October

Market strategist Joel Kruger of LMAX Group noted that seasonal trends may favor bitcoin as it moves into historically strong months. Since 2013, BTC has posted an average October return of 22%, with November historically even stronger, delivering average gains of 46%.

“Given this landmark year for crypto, marked by adoption milestones and regulatory progress, seasonal tailwinds could set the stage for bitcoin to test—and potentially surpass—its previous all-time highs before year-end,” Kruger said.