Is Bitcoin About to Kick Off Another "Uptober"? 3 Metrics Investors Should Keep Their Eyes On.

Core Insights - The term "Uptober" has gained popularity in the crypto community, with Bitcoin reaching a new all-time high of over $126,000 on October 6, reflecting gains of over 9% in the first six days of the month [1] Group 1: Historical Performance - Bitcoin has shown strong performance in October historically, with gains in all but two of the past 12 years according to CoinGlass data [2] Group 2: Market Metrics - The Stablecoin Supply Ratio (SSR) is currently at mid-levels, with an SSR of 16.3 on October 4, compared to over 19 in mid-August when Bitcoin reached its previous all-time high [3][4] - A low SSR indicates a significant amount of cash in stablecoins that could potentially be used to purchase Bitcoin, while a high SSR suggests limited purchasing power [4] - Bitcoin open interest (OI) has surged to a record high, indicating a strong number of active futures and options contracts, which reflects the conviction behind current market trends [7][8]