Bitcoin began October with a price of $63,335.60 and closed the month significantly higher at $70,215.19. This steady upward trend in Bitcoin’s value resulted in a market capitalization increase from approximately $1.2 trillion to over $1.38 trillion.
Table of Contents
October’s performance reflected an overall increase compared to September, where Bitcoin closed at $63,329.50.
Weekly Analysis
Week 1 (Oct 1 – Oct 7):
Bitcoin opened at $63,335.60 on October 1. However, the price experienced fluctuations throughout the week, reaching a low of $60,189.28 and ending at $62,236.66 by October 7.
The first week displayed a consolidation phase, with prices mostly within the $60,000 – $63,000 range.
Week 2 (Oct 8 – Oct 14):
The price began to stabilize within the lower $60,000 range but then made a gradual increase, closing at $66,046.13 by October 14.
This week showed Bitcoin breaking through earlier resistance levels, indicating a positive sentiment among traders.
Week 3 (Oct 15 – Oct 21):
Bitcoin opened at $66,050.37 and closed at $67,367.85. The high of the week was observed on October 21 at $69,462.74.
This period marked a stronger uptrend, with investors gaining confidence as prices started moving toward the $70,000 range.
Week 4 (Oct 22 – Oct 28):
With a strong opening of $67,360.70 on October 22, Bitcoin sustained its upward movement, closing the week at $69,907.75.
This week’s high point was $73,577.21 on October 29, suggesting that the asset had momentum that could push it past the $70,000 mark.
Final Days of October (Oct 29 – Oct 31):
Bitcoin maintained prices above $70,000 and closed the month at $70,215.19, with October 31 marking a monthly high of $72,662.31.
The last few days displayed bullish activity as Bitcoin approached new highs for the month.
Price overview
Check the price overview in the table below:
| Date | Open | High | Low | Close |
| Oct. 31 | $72,335.04 | $72,662.31 | $69,590.50 | $70,215.19 |
| Oct. 30 | $72,715.37 | $72,905.30 | $71,411.74 | $72,339.54 |
| Oct. 29 | $69,910.05 | $73,577.21 | $69,729.92 | $72,720.49 |
| Oct. 28 | $67,922.67 | $70,212.27 | $67,535.13 | $69,907.75 |
| Oct. 27 | $67,023.48 | $68,221.31 | $66,847.22 | $67,929.30 |
| Oct. 26 | $66,628.74 | $67,317.92 | $66,360.60 | $67,014.70 |
| Oct. 25 | $68,165.30 | $68,722.16 | $65,521.79 | $66,642.41 |
| Oct. 24 | $66,653.70 | $68,798.96 | $66,454.10 | $68,161.05 |
| Oct. 23 | $67,362.37 | $67,402.74 | $65,188.04 | $66,432.20 |
| Oct. 22 | $67,360.70 | $67,801.58 | $66,581.37 | $67,361.40 |
| Oct. 21 | $69,002.00 | $69,462.74 | $66,829.85 | $67,367.85 |
| Oct. 20 | $68,364.18 | $69,359.01 | $68,105.72 | $69,001.71 |
| Oct. 19 | $68,418.98 | $68,668.01 | $68,024.64 | $68,362.73 |
| Oct. 18 | $67,419.11 | $68,969.75 | $67,177.82 | $68,418.79 |
| Oct. 17 | $67,617.08 | $67,912.21 | $66,647.39 | $67,399.83 |
| Oct. 16 | $67,042.46 | $68,375.29 | $66,758.73 | $67,612.72 |
| Oct. 15 | $66,050.37 | $67,881.68 | $64,809.20 | $67,041.1 |
| Oct. 14 | $62,848.40 | $66,482.49 | $62,442.15 | $66,046.13 |
| Oct. 13 | $63,192.94 | $63,272.65 | $62,035.64 | $62,851.37 |
| Oct. 12 | $62,444.62 | $63,448.78 | $62,443.27 | $63,193.02 |
| Oct. 11 | $60,275.46 | $63,400.87 | $60,046.13 | $62,445.09 |
| Oct. 10 | $60,581.93 | $61,236.72 | $58,895.21 | $60,274.50 |
| Oct. 9 | $62,131.73 | $62,508.84 | $60,314.61 | $60,582.10 |
| Oct. 8 | $62,221.65 | $63,174.31 | $61,843.56 | $62,131.97 |
| Oct. 7 | $62,819.11 | $64,443.71 | $62,152.55 | $62,236.66 |
| Oct. 6 | $62,084.99 | $62,959.57 | $61,833.15 | $62,818.95 |
| Oct. 5 | $62,067.61 | $62,371.02 | $61,689.58 | $62,089.95 |
| Oct. 4 | $60,754.63 | $62,465.99 | $60,459.94 | $62,067.48 |
| Oct. 3 | $60,632.49 | $61,469.04 | $59,878.80 | $60,759.40 |
| Oct. 2 | $60,836.32 | $62,357.69 | $59,996.95 | $60,632.79 |
| Oct. 1 | $63,335.60 | $64,110.98 | $60,189.28 | $60,837.01 |
Key Observations
Volatility: October saw notable volatility with intraday price swings reaching thousands of dollars. For example, on October 30, Bitcoin traded between a high of $72,905.30 and a low of $71,411.74.
Market Sentiment: The price increase over the month suggests positive sentiment in the market, possibly influenced by broader factors such as regulatory news, institutional interest, or macroeconomic indicators that tend to affect cryptocurrency performance.
Market Capitalization: The rise in market cap from approximately $1.2 trillion to $1.38 trillion by the end of October underscores Bitcoin’s strengthened position and the continued appeal to investors.
Conclusion
October 2024 was a bullish month for Bitcoin, with prices consistently moving upward. The market capital’s growth reflects solid investor interest, and Bitcoin’s closing price above $70,000 suggests a strong momentum that may carry over into the next month. Investors may continue to watch for regulatory updates and economic shifts, as these are key drivers in the cryptocurrency’s price trends.