Bitcoin and Gold Surge as "Uptober" Rally Begins Amid US Government Shutdown

Bitcoin (BTC) has surged approximately 3% to $116,400 in the past 24 hours, while the CoinDesk 20 index gained 3.5% as investors shift to alternative assets during the US government shutdown. Gold prices rose 3.75% to $3,890 per ounce, with spot bitcoin ETFs attracting over $550 million in net inflows. Federal Reserve rate cut expectations near 85-95% are making risk assets more attractive. Institutional involvement grows as BlackRock's iShares Bitcoin Trust becomes the top bitcoin options venue with $38 billion open interest. The SEC will decide on 16 spot crypto ETF applications this month, potentially driving further market momentum.