Bitcoin’s third-quarter performance stands at 0.89% after dropping 3.47% on September 30. Many in the crypto space expect a bullish start to October and the fourth quarter. Echoing these sentiments, Bitcoin price is up 1% today and trades at $63,955. What can investors expect next from BTC?
Why Did Bitcoin Rally to $65K?
The seven-month consolidation has caused BTC price to rotate in a cyclical fashion. In the past five months, local tops and bottoms have formed in the first or third weeks of every month.
BTC/USDT 1-day chart
After Bitcoin’s 10% crash in the first week of September, it formed a local bottom on September 6 and kickstarted a 26% rally to $65k. This is a simple, straightforward reason for why Bitcoin rallied to $65K. However, the macroeconomic policies also influenced BTC’s aforementioned move.
A portion of this uptrend was driven by the US Federal Reserve’s 50 basis point rate cut decision on September 18. The other half of it can be attributed to the interest
We współpracy z: https://coingape.com/markets/bitcoin-price-slips-below-65k-whats-next/
