This week in crypto, October began with a surge of optimism as Bitcoin climbed past AU$180,000 (US$120,000) and most altcoins followed with strong double digit gains. Crypto traders call October “Uptober” because the month has historically been one of Bitcoin’s best, with Bitcoin finishing October in the red only twice since 2013. At the same time, the US government shutdown created fresh uncertainty, while attention turned to the wave of ETF decisions expected in the coming weeks.

Bitcoin’s rally set the tone for markets and sparked talk of a powerful run into the end of the year. Altcoins also gained momentum, with privacy focused Zcash (ZEC) leading the way after jumping more than 130 percent. The rally came after Grayscale reopened private placements for its Zcash Trust, which renewed investor interest in privacy tokens. Analysts note that volatility could return quickly if speculative flows push prices too far, but market sentiment remains firmly positive.

Institutional investors are now focused on what many are calling “ETF month”. The US Securities and Exchange Commission is due to decide on 16 crypto exchange traded funds in October. The first decision was scheduled for October 2 on Canary Capital’s Litecoin ETF, but the government shutdown left the SEC silent. Key rulings are still on the calendar, including Grayscale’s Solana and Litecoin trusts on October 10 and WisdomTree’s XRP fund on October 24. Any approvals would expand institutional access to crypto markets beyond Bitcoin and Ethereum.

The US government shutdown this week added fresh uncertainty to financial markets and is already complicating the crypto regulatory timeline. The SEC’s silence on Canary Capital’s Litecoin ETF has raised concerns about further delays in pending decisions. At the same time, lawmakers debated new approaches to crypto taxation, including exemptions for small transactions and clearer rules for staking rewards. While no agreement has been reached, the discussions suggest policymakers are beginning to modernise the tax code for digital assets.

In Web3, Nasdaq listed Predictive Oncology made headlines by announcing a US$344 million digital asset treasury built around Aethir’s ATH token. The biotechnology firm, known for its AI driven cancer research, became the first publicly traded company to hold and manage tokens from a Decentralised Physical Infrastructure Network. This move highlights how token based treasuries are beginning to attract interest beyond the financial sector, suggesting that decentralised networks could play a role in corporate strategy.

This week’s developments show how quickly optimism can return to crypto markets. With Bitcoin’s seasonal strength, the chance of multiple ETF approvals, and corporations exploring token based strategies, the final quarter of 2025 is shaping up to be one of the most important periods in recent years. The key challenge remains policy uncertainty in the US, which could determine whether Uptober’s rally continues into year end.

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