QCP Capital has declared the arrival of “Uptober,” pointing to October as a historically favorable month for Bitcoin. Analysis shows that over the past nine years, Bitcoin has averaged a 22.9% increase during this month, achieving gains in eight out of those years. If this trend continues, Bitcoin could surpass $78,000, potentially setting a new all-time record.

Furthermore, QCP noted a significant uptick in Ethereum call options being traded this morning, indicating that investors are gearing up for a positive October not just for Bitcoin, but also for Ethereum. Given that October typically brings upward market movements, there’s a growing sense of optimism within the crypto community about substantial price gains in the weeks ahead.