After a rough stretch last week, the crypto market is bouncing back, with major coins leading a broad recovery.
Summary
- The crypto market is rebounding, with Bitcoin back above $111,000 and Ethereum near $4,100 as Solana leads altcoins higher.
- Growing “Uptober” optimism is fueling the rally after last week’s heavy liquidations and market downturn.
- Anticipation of altcoin ETF approvals is driving renewed interest and supporting bullish sentiment.
The crypto market opened the new week in green, as data from September 29 shows assets from Bitcoin to altcoins and memecoins posting gains.
Bitcoin (BTC) has climbed back above $112,000, up more than 2% in the past 24 hours, while Ethereum (ETH) added about 2% to trade near $4,100. Among top altcoins, Solana (SOL) surged over 3%, reclaiming the $209 level, while others including XRP (XRP) and BNB (BNB), rose near 5%.
The uptick has helped push the overall market capitalization above $3.9 trillion, recovering a large chunk of the losses from last week’s downturn.
Crypto market rebounds ahead of Uptober
Fueling the boost is the familiar “Uptober” buzz. With October just two days away, traders are leaning on the month’s strong historical performance for Bitcoin and other major tokens, which has averaged double-digit gains in past years.
The market uptick is reflected in the fear & greed index, which has climbed from fear to a more balanced neutral, as confidence returns with institutional moves and regulatory developments also driving sentiment.
Altcoin ETF optimism fuels crypto market boost
Another key driver of the rebound is optimism around altcoin ETFs. Proposals tied to assets including Solana, XRP, Litecoin, and several others are currently under review, with the SEC’s decisions expected to roll out in the coming weeks.
Earlier this month, the commission adopted generic listing standards that shorten review timelines, adding to market expectations and optimism for approval. The new framework is also expected to open the door for more altcoin ETF applications, which could bring stronger institutional demand and wider attention to the industry.
At the same time, existing products continue to see steady inflows. Despite recent volatility, spot Bitcoin and Ethereum ETFs have drawn interest from institutional buyers, signaling strong demand across the sector.
Overall, the recovery has put the market back on stronger footing, but its durability will hinge on whether ETF approvals materialize and if October’s seasonal strength delivers as in past years.
