Analysts at QCP Capital are optimistic about a potential rally for Bitcoin in October, as long as it remains above the $60,000 support level. Despite the rise in U.S. stock markets, the same level of optimism has not been seen in crypto. However, the QCP Capital analysts believe an "Uptober" rally is possible. In early trading, the Dow Jones and S&P 500 both saw gains, while Bitcoin was also up. The rise in stock markets follows mixed PPI data, which supports expectations of a rate cut by the Fed in November. QCP Capital highlighted the importance of Friday's PPI data in gauging the strength of the U.S. economy. Meanwhile, Coinbase analysts noted that Bitcoin's performance has been relatively stable this week, and market sentiment remains unchanged. The upcoming fiscal policy briefing in China could indirectly impact crypto markets.
- Content Editor ( en.bitcoinsistemi.com )
- 2024-10-12
Bitcoin’s Big October Rally Could Come Only If Its Price Stays Above This Level, Analysts Says