$BTC begins «Uptober» (traditionally strong for the October rally) from the $84,272 level: moderate PCE inflation data reduced the likelihood of a rate hike in October to 37%, and Goldman Sachs pushed its rate-hike forecast further out.
Nevertheless, rising Treasury yields and a stronger dollar limit upside potential, keeping the price capped in the $85,000–$87,000 resistance range.
Historically, October is Bitcoin’s strongest month (in 10 of the last 13 years, the average gain was nearly 20%), and the key catalysts that will set the tone for the rest of the fourth quarter will be the Fed’s decision on October 28 and Friday’s jobs report (NFP).
Nevertheless, rising Treasury yields and a stronger dollar limit upside potential, keeping the price capped in the $85,000–$87,000 resistance range.
Historically, October is Bitcoin’s strongest month (in 10 of the last 13 years, the average gain was nearly 20%), and the key catalysts that will set the tone for the rest of the fourth quarter will be the Fed’s decision on October 28 and Friday’s jobs report (NFP).