• Bitcoin's price has recently experienced some volatility due to geopolitical and economic events. As of early October 2024, BTC is trading around $60,800, recovering slightly after a dip of 9.5% triggered by the escalating Middle-East crisis. This geopolitical tension caused market-wide sell-offs, including in the crypto space, leading to a temporary correction.

  • Despite this, Bitcoin is showing resilience, as major institutional players, particularly U.S. Bitcoin ETFs, continue accumulating BTC. These ETFs have collectively purchased over $1.1 billion in Bitcoin in the wake of the U.S. Federal Reserve's interest rate cuts.

  • Looking forward, some analysts expect BTC to face one more potential dip, possibly towards the $54,000-$55,000 range, before continuing a bullish breakout in October. Historically, October has been a strong month for Bitcoin, averaging nearly 23% returns.

  • Key support levels to watch are $60,000, which is crucial for maintaining a bullish outlook. If this level breaks, $BTC

    BTC could drop further, but strong buying interest is expected around $55,000.

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