Market Wrap: Bitcoin Closes October Positive As it Turns 15 Years

Bitcoin is currently trending on X for several reasons. Nonetheless, the most glaring thing is that the coin turned fifteen years old. To celebrate this proponents, traders, and enthusiasts took to social media to show appreciation for the founder Satoshi Nakamoto.

Adding to the celebrations, researchers at Bernstein Research said that a bitcoin ETF is almost a “done deal” and may happen in January 2024. The excitement continues as many look forward to the fulfillment of this statement.

Away from the thrills of the moment. BTC also had a splendid performance over the last thirty days. A close at the current price will mean that October is the third most bullish month for the top coin. Nonetheless, the fundamentals are glaring.

One of the most exciting news that made the rounds at the time was from Grayscale. The U.S. Securities and Exchanges Commission said it would not appeal a legal process by the company to convert Bitcoin Trust into an Exchange-Traded Fund. This could be a clear path to the long-awaited approval.

A few days later, BlackRock’s iShares Bitcoin Trust was listed on the Depository Trust & Clearing Corporation (DTCC) with the ticker symbol “IBTC.” Many believe this is also in preparation for the anticipated product.

Michael Saylor also made the news as the recurring surges over the last thirty days turned his BTC bet positive. As per reports, when the apex coin was at $34k,  Microstrategy’s bag gained more than $700 million. At the current price, its $4.6 billion investments have gained more.

Bitcoin May Close October Gaining 27%

The top coin started the current month at $26,965 but dropped to a low of $26,533. This low sparked fear of a retest of the $25 support but this never happened as it rebounded. Afterward, it shot to a high of $35,198. Currently trading at $34,487, the top may close the 31-day period with gains of more than 27%.