Bitcoin Tops $118K on ETF Inflows

Bitcoin kicked off October with a sharp rally, briefly topping $118,000 and trading in the $116k–$118k range, lifting the total crypto market capitalization above $4 trillion. The move has been underpinned by sizable spot-ETF inflows and large institutional buys, alongside macro drivers such as expectations for near-term Fed easing and a looming U.S. government shutdown that pushed flows into alternatives. Market seasonality (“Uptober”) and historical October/Q4 strength are cited by traders as an additional bullish backdrop. Prominent analysts and on-chain commentators are signaling bullish momentum, and pending SEC decisions on multiple spot altcoin ETF applications are being watched closely. Despite the rally, traders warn of Bitcoin’s historical volatility and prior drawdowns of 80%+, and speculative projects like Bitcoin Hyper are being promoted as potential Layer‑2 plays for Bitcoin DeFi and payments.