Bitcoin Kicks Off 'Uptober' With Break Above $116K as Crypto Equities Surge Pre-Market

The much-anticipated “Uptober” has arrived, and the momentum is already building on the very first day of the month.

Bitcoin has broken through the $116,000 mark, climbing 2% in the past 24 hours and briefly reaching as high as $116,600. The rally is unfolding against a backdrop of a U.S. government shutdown and record-setting strength in gold, which is trading near $3,900.

Ether ETH$4,291.40 is following suit, jumping nearly 4% in the same 24-hour period to trade at $4,287.

The surge in bitcoin during the European session has spilled over into U.S. crypto equities, fueling sharp pre-market activity. Strive (ASST) is the standout winner, soaring 25% to $3.15. Strategy (MSTR), widely seen as a leveraged bitcoin play, is up more than 2% at $328 per share. Bitfarms (BITF) has added 3% in pre-market trading to $2.91, while Kindly MD (NAKA) is up 7%.