Bitcoin briefly broke $121,000 on Friday as it extended this week’s rally. October has historically been BTC’s strongest month, and the psychology of “Uptober” goes far deeper than seasonal superstition.
CryptoQuant explained that it reflects the powerful interaction of investor sentiment, capital flows, and macro catalysts that reliably converge in the crypto asset’s favor during Q4.
Uptober Unleashed
After months of subdued summer trading, the arrival of October ignites a shift in psychology: the very narrative that Bitcoin historically performs well this month primes investors to anticipate upside. Early buyers are motivated by these expectations and push prices higher, as the familiar cycle of FOMO quickly reinforces momentum.
On-chain metrics such as the Spent Output Profit Ratio (SOPR) consistently illustrate this pattern, which can be evidenced by values climbing above 1 in Q4, which means that participants are selling into strength and realizing profits without causin
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