Bitcoin (BTC) Could Recover This Month?

- Despite recent volatility, many indicators suggest that BTC could be entering a bullish phase. However, one key factor hints at a sharp decline in the short term.

- October, often referred to as the “Uptober,” has seen BTC fall 5% over the past 10 days, currently trading near $61,000. However, exchange outflows have outpaced inflows, suggesting a reduction in selling pressure.

- BTC’s MVRV has dipped below 2, signaling a buying opportunity. RSI is also nearing the buy zone at 38.

- Conversely, whales have sold or redistributed 30,000 BTC in the past 72 hours, which could cause panic and drag prices down.

🔍 Let’s wait and see! 🚀