On October 3, Bitcoin rebounded from the recent $1,300 decline with modest gains as it approached the daily close. BTC's price action has hovered around the $27,500 level, declining from its six-week high near $28,600. Market participants remained calm despite the early October boom potentially being a fakeout. Famous trader Jelle stated that the lack of a rapid rise following the explosion is a positive sign. Daan Crypto Trades emphasized the importance of a gradual rise for Bitcoin bulls. He noted that long-term investors should be patient and wait for favorable entry points, especially during the Asian trading session. Bitcoin's price movements have continued to attract the attention of traders and analysts assessing the short- and long-term potential.