Crypto traders are placing big bets on Bitcoin having a strong October, according to data from Kaiko Research. The firm found that derivatives traders on the crypto options exchange Deribit are betting hundreds of millions of dollars on Bitcoin regaining the $70,000 range this month. This optimism is driven by the historical performance of October as Bitcoin's best trading month, as well as new macroeconomic conditions such as the US central bank's rate-cutting cycle and the eventual easing of quantitative tightening measures. Bitcoin's current price stands at $61,026, down 3.9% in the last 24 hours.



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