Bitcoin

Publicly traded crypto-linked firms in the United States saw gains on Oct. 14 as Bitcoin rallied 6% to briefly hit $66,400 — its highest price since July 30.
Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) miner CleanSpark was the strongest performer for the day, closing up 12.72% at $10.81 and continuing to climb 1.72% after hours to $11, Google Finance <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/CLSK:NASDAQ" rel="null" target="null" text="null" title="null">data</a> shows.
Crypto exchange Coinbase followed, <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/COIN:NASDAQ" rel="null" target="null" text="null" title="null">closing</a> with an 11.3% gain at $196.35 — a seven-week high — and continued to climb 1.71% to $199.70 in after-hours trading.
Crypto miner Iren — formerly Iris Energy — also <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/IREN:NASDAQ" rel="null" target="null" text="null" title="null">saw</a> double-digit percentage point gains of 10.21%, while <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/WULF:NASDAQ" rel="null" target="null" text="null" title="null">competitors</a> TeraWulf and MARA Holdings, formerly Marathon Digital, <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/MARA:NASDAQ" rel="null" target="null" text="null" title="null">rallied</a> 6.65% and 5.6%, respectively.
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 <img alt="Coinbase, Bitcoin Mining, Stocks, Halving, US Elections 2024" src="https://s3.cointelegraph.com/uploads/2024-10/01928dd7-910e-77a3-90cc-c74844ce181a" title="">
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 Change in the share price of the eight largest crypto mining firms by market cap on Oct. 14. Source: Companies Market Cap
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Semler Scientific — a medical manufacturing firm that copied <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/metaplanet-semler-scientific-praise-microstrategy-bitcoin-strategy" rel="null" target="null" text="null" title="null">MicroStrategy’s Bitcoin-buying playbook</a> — traded flat on Oct. 14 then <a data-ct-non-breakable="null" href="https://finance.yahoo.com/quote/SMLR/" rel="null" target="null" text="null" title="null">increased</a> 4.3% in after-hours trading, while digital payments firm Block gained 2.8%, Yahoo Finance <a data-ct-non-breakable="null" href="https://finance.yahoo.com/quote/SQ/" rel="null" target="null" text="null" title="null">data</a> shows.
Business intelligence <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-on-steroids-why-is-mstr-stock-trading-at-a-premium" rel="null" target="null" text="null" title="null">firm MicroStrategy</a> — which holds 252,220 BTC worth $16 billion — was one of the few that <a data-ct-non-breakable="null" href="https://www.google.com/finance/quote/MSTR:NASDAQ" rel="null" target="null" text="null" title="null">closed</a> down on the day, dropping 5.1% to $201.67, but got a slight 1.65% bump to $205 after hours.
Bitcoin miner Core Scientific also fell by 1.9% to $12.97, with a slight recovery to $13.05 after the bell.
The rallies and after-hours gains came alongside a 5.7% bump in Bitcoin price over the last 24 hours — which saw it briefly hitting its highest price since July 30 — prompting some industry analysts to speculate if “Uptober” <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-hits-66k-analysis-uptober-begun" rel="null" target="null" text="null" title="null">has finally begun</a>.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/harris-beats-biden-lags-trump-crypto-policy-galaxy-research" rel="null" target="null" text="null" title="null">Harris beats Biden, lags Trump on crypto policy — Galaxy Research</a>
Bitcoin analyst On-Chain College noted in an Oct. 14 X post that Bitcoin cleared its 200-day moving average and short-term holder cost basis of $62,600 — both key bull market support levels signaling a possible price breakthrough.
“Has Uptober begun?!” On-Chain College pondered.
In an Oct. 14 X post, Dan Tapiero, founder of crypto investment firm 10T Holdings, said Bitcoin is “on the verge” of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-break-loose-70k-uptober-flips-green" rel="null" target="null" text="null" title="null">breaking through $70,000</a>.
“Uptober” — a bullish term for October that has seen Bitcoin’s price increase in nine of the last 11 Octobers — often <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-election-wont-hamstring-bitcoins-q4-rally-toward-new-high" rel="null" target="null" text="null" title="null">kickstarts strong fourth quarters</a> for Bitcoin, CoinGlass <a data-ct-non-breakable="null" href="https://www.coinglass.com/today" rel="null" target="null" text="null" title="null">data</a> shows.
<figure>
 <img alt="Coinbase, Bitcoin Mining, Stocks, Halving, US Elections 2024" src="https://s3.cointelegraph.com/uploads/2024-10/01928dd6-66f4-78be-9763-d44df0a8d6e7" title="">
 <figcaption style="text-align: center;">
 Bitcoin’s month-on-month returns since 2013. October highlighted in blue. Source: CoinGlass
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CK Zheng, a chief investment officer of crypto hedge fund ZX Squared Capital, said the 2024 halving event and the upcoming US election could help <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-election-wont-hamstring-bitcoins-q4-rally-toward-new-high" rel="null" target="null" text="null" title="null">push Bitcoin above</a> its all-time high price of $73,738 in the fourth quarter — or soon after.
Bitcoin is currently trading at $66,270 — still 10.4% off its all-time high set on March 14, CoinGecko <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/bitcoin" rel="null" target="null" text="null" title="null">data</a> shows.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/" rel="null" target="null" text="null" title="null">Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO</a>

Crypto stocks see price rally as Bitcoin tops $66K

Cointelegraph

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