A lot can change in the cryptocurrency markets in the span of just a week. Even though we have said this many times in the past, the narrative proved correct once again.
Recall that the entire market situation was quite dire at the end of the previous business week. BTC had come on the heels of a rally to $118,000 after the US Federal Reserve cut the interest rates for the first time in 2025, but was violently rejected there, and the subsequent correction drove it south hard. In just several days, it lost nearly $10,000 and dipped to a multi-week low of under $109,000.
This crucial support held the price on the way south despite being tested on several occasions in days. Bitcoin calmed over the weekend, and the bulls finally reemerged at the start of the current business week.
They initiated an impressive rally on Monday that drove BTC north by roughly six grand to $115,000. After a brief correction to $113,000, they resumed control of the market and pushed the cryptocurrency higher in the following days, which culminated yesterday with a surge to just over $121,000. This became bitcoin’s highest price tag in over seven weeks.
Although it has stopped there, at least for now, BTC still stands above $120,000 as of press time. This means that it has added more than $10,000 since last Friday and is now inches away from a new all-time high. Speaking of new records, it’s worth highlighting BNB, which went into uncharted territory earlier today at over $1,100.
In terms of weekly gains, though, the past 7 days belong to Zcash. The privacy token has skyrocketed by 170% to a three-year peak of just over $150. The chart below will demonstrate many altcoin winners from the past week, including ETH, SOL, DOGE, HYPE, SUI, XLM, and others, all of which have posted double-digit gains.
Market Data
Market Cap: $4.230T | 24H Vol: $200B | BTC Dominance: 56.7%
BTC: $120,350 (+9.8%) | ETH: $4,460 (+12.14%) | XRP: $3.03 (+9.4%)
This Week’s Crypto Headlines You Can’t Miss
MicroStrategy Announces New Bitcoin Buy, Now Holds Over 640,000 BTC. Not much of a surprise here as Saylor’s Strategy announced its latest BTC acquisition of 196 units, pushing its total holdings beyond 640,000. Interestingly, Metaplanet made a substantially larger purchase this week of 5,268 BTC, which drove its stash to 30,823.
No Reaction From Crypto Markets as US Govt Shuts Down. The so-called ‘Uptober’ (in the crypto community) began with a bang in terms of price reactions, but also with massive news from the US, as the government had to shut down due to Democrats and Republicans failing to reach a deal on several major pieces of legislation.
Robert Kiyosaki Says Bitcoin Is the Only Real Hedge as Buffett Turns to Gold. After years of bashing gold, Warren Buffett turned the tables and embraced the yellow metal following its significant run in 2025. Robert Kiyosaki said he read between the lines and now expects a major crash in the stock market. Consequently, he believes BTC is the only real hedge.
Ethereum Supply Crisis? Exchanges Can’t Keep Up With Surging Withdrawals. Investors rushed to take their ETH out of exchanges during the most recent run that saw the asset go from $3,800 to $4,500. According to some reports, trading platforms couldn’t keep up with the surging withdrawals at one point.
Bitcoin Poised for Huge Gains as Gold Correlation Suggests Late November Surge. Even before the impressive rally to $121,000, popular crypto analyst Ted Pillows outlined a notable correlation between BTC and gold, which, he indicated, could result in a big run in Q4 for the digital asset.
Bitcoin’s Bull Run Backed by Growing Long-Term Holders. Unlike previous bull runs, which seemed more speculative due to the participation mostly of retail investors, this one is backed by a growing number of long-term holders, as well as institutions, said CryptoQuant’s Avocado_onchain.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
The post BTC Gains $10K, BNB Sets New ATH, ZEC Soars by 170% as Uptober Begins: Your Weekly Crypto Recap appeared first on CryptoPotato.
