Key Takeaways

• On 6 October 2025, the cryptocurrency market sees Bitcoin approaching its record high, just below $124,000, due to strong institutional interest.
• Bitcoin surged near its all-time high of $124,000 amid increased institutional demand.
• Ethereum, Solana, and XRP rallied alongside Bitcoin’s upward momentum.
• Bakkt stock rose 150% following debt clearance and business restructuring.
• The US government shutdown delayed SEC approvals for crypto ETFs, impacting timelines.
• Broader cryptocurrency market sentiment in October 2025 lifted as mainstream attention increased.

Introduction

On 6 October 2025, Bitcoin’s rise towards a new all-time high near $124,000 highlights increasing institutional demand and sets a dynamic tone for the cryptocurrency market in October 2025. This roundup outlines broad gains across leading tokens, Bakkt’s significant stock jump, and how regulatory delays indicate ongoing changes in the digital asset sector.

Top Story

Bitcoin reached $123,450 in early trading, approaching its record high of $124,000 set in September. The cryptocurrency gained 15% since the start of October, supported by persistent institutional inflows and reduced selling pressure.

BlackRock’s spot Bitcoin ETF reported over $2.8 billion in assets under management. Fidelity’s digital assets division stated it had achieved a 40% increase in institutional crypto custody clients during the third quarter of 2025.

Trading volumes on major exchanges reached their highest levels of the year, with Coinbase reporting a 65% increase in institutional trading activity compared to the previous month.

Market attention remains focused on whether Bitcoin will break through its previous all-time high. Multiple technical indicators suggest strong buying momentum.

Also Today

Altcoin Rally Gains Momentum

Ethereum led alternative cryptocurrencies with an 8% daily increase, reaching $4,850. The gain followed the successful implementation of network upgrades that improved transaction speeds and reduced fees.

Ripple’s XRP rose 12% after new institutional partnerships were announced with three major Asian banks for cross-border payments.

Bakkt Stock Surges on Expansion News

Bakkt shares climbed 28% after the company announced plans to expand its institutional services across Europe. Regulatory approvals were secured in France and Germany for its custody solutions.

Trading volume in Bakkt shares was five times the daily average. Several Wall Street analysts upgraded their price targets.

Regulatory Framework Delays

The Senate Banking Committee delayed its vote on a comprehensive crypto regulatory framework until November. Committee Chair Thompson said additional industry consultation was needed regarding stablecoin provisions.

Industry leaders expressed cautious optimism, viewing the delay as an opportunity for thorough consideration of technical requirements.

What to Watch

• SEC Bitcoin ETF hearings: Final decision deadline for pending applications (15 October 2025)
• Coinbase Q3 earnings release: After market close (16 October 2025)
• Digital Asset Summit: Annual conference in New York (21–23 October 2025)
• Ethereum Developer Conference: Technical roadmap presentation (28 October 2025)
• Congressional Stablecoin Workshop: Public testimony sessions (30 October 2025)

Conclusion

Bitcoin’s approach to its all-time high, fueled by institutional demand, anchors a pivotal moment for the cryptocurrency market in October 2025. Altcoins rallied in tandem, while regulatory processes remain in transition. Key industry decisions and scheduled events, such as the SEC Bitcoin ETF hearings on 15 October 2025, will guide market participants through the coming weeks.