Bitcoin (BTC) is set to achieve a record-breaking monthly close, with a gain of about 14% in October. This positive momentum comes after Bitcoin struggled to breach the $70,000 mark at the beginning of the month. Despite dropping below the $60,000 support zone, Bitcoin has shown resilience and has rallied to trade at $71,152. Historically, Bitcoin has traded higher on each Halloween day than the year before, and if it closes on another high, it could align with this pattern. The upcoming United States presidential elections are also considered bullish for Bitcoin, especially if Donald Trump wins re-election, as he has expressed support for the crypto sector. Institutional interest in Bitcoin is also driving its price, with Bitcoin ETFs recording historic inflows of $893 million on October 30. However, caution is advised as Bitcoin is entering overbought territory and needs confirmation by breaching the $74,000 resistance for sustained gains.
Expert Says This Time Will Not Be Different After Massive Bitcoin Rallies in Last Three US Elections