Crypto Market Surges 1.4% Amid Flight From Euro Assets

The cryptocurrency market has seen a 1.4% increase over the past 24 hours, reaching $2.92T in total value.

This rise comes despite a strengthening dollar and is instead driven by a flight from European assets.

Crypto enthusiasts point to October as historically being a positive month for cryptocurrencies, with this being the fourth consecutive month starting on a positive note.

Aave was among the top performers over the past 24 hours, increasing in value by 11.8%, followed closely by Aptos and Litecoin.

Bitcoin is attempting to break through the $86-87K range, having previously failed to hold above $85K on Thursday.

Citigroup has raised its 12-month forecast for Bitcoin from $82K to $113K, citing increased activity in the crypto market and a favourable macroeconomic backdrop.