Bitcoin Surpasses $28,000 Mark, Crypto Market Turns Green Welcoming "Uptober"? Jane

The cryptocurrency market has seen positive growth at the beginning of October 2023 as the price of Bitcoin (BTC) surpassed the $28,000 mark.

Fluctuations of top cryptocurrencies compared to a day ago. Screenshot from Coin360 taken at 03:50 PM on October 2, 2023

At the start of October 2023, after a wearying sideways movement in Q3, the price of Bitcoin (BTC) officially broke the $28,000 barrier.

BTC temporarily peaked at $28,400, its highest level since mid-August when SpaceX announced a $373 million BTC sale.

1-hour chart of BTC/USDT pair on Binance at 03:50 PM on October 2, 2023

Ethereum (ETH) also surpassed the $1,700 mark and is currently peaking at $1,750.

1-hour chart of ETH/USDT pair on Binance at 03:50 PM on October 2, 2023

Thanks to the acceleration of these two leading cryptocurrencies, the cryptocurrency market has turned green with many coins seeing double-digit increases.

Price movements of top 20 coins on CoinGecko at 03:50 PM on October 2, 2023

Notably, Solana (SOL) surprised many by being the top 100 coin with the most impressive growth over the past 24 hours, nearing 14%.

1-hour chart of SOL/USDT pair on Binance at 03:50 PM on October 2, 2023

It seems that after a period of relative quiet, Solana has regained community trust and is recovering from the FTX/Alameda Research crash.

Crypto enthusiasts often humorously refer to October as "Uptober" - the month of growth - as historically, BTC prices tend to turn green in October in most years.

Monthly Bitcoin price movements

And is the market actually following suit?