According to Wu, QCP Capital Analysis pointed out that despite the poor performance in early October, BTC has recovered to the level of last Monday. With the support of Uptober sentiment and strong non-agricultural data, Bitcoin has gained support at the 60k position.
The upcoming HBO Bitcoin documentary has also brought more attention to the crypto market. The options market remains bullish, with investors continuing to buy the December 75k/95k options combination.
Pay attention to this week's US CPI data, which may affect market expectations of the Federal Reserve's interest rate cut.
