Bitcoin experienced a rise of roughly 4.4% in the past week, reaching a price level of $66,000. The cryptocurrency's price has seen an overall increase of 4.11% in seven days. Bitcoin has surpassed the $65,500 level and is expected to have a strong October, with potential for new record highs. The recent rate cut by the Federal Reserve has been seen as positive for risky assets like Bitcoin, and hedge fund manager Anthony Scaramucci predicts further growth in the digital asset market. Bitcoin has shown a strong correlation with the S&P 500 Index, indicating the impact of macroeconomic factors on both markets. October historically has been a bullish month for Bitcoin, with positive monthly returns. Bitcoin's Market Value to Realized Value ratio (MVRV) suggests a potential positive momentum in the market. Analysts have differing views on Bitcoin's short-term trend, with one seeing a transition from a bearish phase and another highlighting the ongoing pattern of lower highs and lower lows.



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