Bitcoin continued its rally, nearing $124,000, just shy of its all-time high. JPMorgan analysts predict it could reach $165,000 by year-end, citing its utility as a hedge against fiat currency devaluation. Ethereum also climbed 9% to $4,500. Some, like Two Prime’s CEO, see Bitcoin’s gains as a “precarious rally,” driven by expectations of a Q4 rally and broader monetary policy trends. U.S. regulatory agencies are easing restrictions on digital assets, allowing new ETFs and expanding custody options. However, SEC commissioner Caroline Crenshaw warns of risks to investors with the new interpretation.

Read more at Yahoo Finance: Bitcoin zooms over $123,000 as crypto fans hail an ‘Uptober’ for the ages