After a brief dip in September, Bitcoin (BTC) has once again surged close to $70,000, marking a strong comeback in the global crypto market.
According to on-chain analysts, this rally is mainly driven by three key factors:
1. Increased Institutional Investment – Major funds have started accumulating Bitcoin again after ETF inflows hit record highs in early October.
2. Falling U.S. Dollar Index (DXY) – As the dollar weakens, investors are moving back into risk assets like Bitcoin and Ethereum.
3. Halving Anticipation – With the next Bitcoin halving expected in early 2026, many traders are buying now to position themselves early.
Meanwhile, altcoins such as Solana (SOL) and Avalanche (AVAX) are also showing double-digit weekly gains, signaling a broader market recovery.
Experts predict that if Bitcoin crosses $72,000 with strong volume, a new all-time high (ATH) may be just weeks away.