October 2023 Bitcoin Market Highlights and Key Crypto Developments

Published at 2025-09-22 11:02:21

October 2023 Bitcoin Market Highlights and Key Crypto Developments

Bitcoin saw a volatile yet positive period in October 2023. On October 20, Bitcoin price stood at around $29,503, marking a 10.5% weekly gain.

Key Events:

  • A tweet falsely claiming the SEC approved a Blackrock spot Bitcoin ETF triggered an abrupt price jump of over $2,000, pushing Bitcoin from under $28,000 to nearly $30,000. This was later debunked, causing a partial price retracement.

  • The Grayscale Bitcoin Trust (GBTC) discount to net asset value narrowed to roughly 13%, the lowest in two years. Analysts indicate a near 90% chance that a Bitcoin spot ETF will be approved by January 10, 2024.

  • Bitcoin continued to recover, reaching the $30,000 mark once again. Other cryptocurrencies also saw significant gains:

    • Ether (ETH) rose by 4.19% to $1,562.
    • Solana (SOL) surged impressively by 25.6% to $26.83.

Other Notable Developments:

  • Uniswap recently implemented a 0.15% swap fee on certain tokens to support operational funding.

  • The European Central Bank is progressing beyond investigating to preparing for launching a digital euro, a significant move towards central bank digital currencies.

For crypto enthusiasts looking to invest, platforms like Bitlet.app offer a flexible Crypto Installment service. This innovative feature allows users to purchase Bitcoins and other cryptocurrencies immediately while paying in convenient monthly installments. It’s a great way to capitalize on market opportunities without the need to pay full amounts upfront.

Stay updated with the latest crypto news and make smarter investment choices with Bitlet.app—your partner for accessible and flexible crypto buying solutions.

BitcoinUniswapCryptocurrencyCryptoInstallmentsETFBitletAppGrayscaleCryptoMarketDigitalEuro
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