Bitcoin's October Rally at Risk This Year
October's Performance: Bitcoin is at risk of closing October in the red for the first time since 2017, breaking its historical trend of positive performance during this month, known as "Uptober."
Market Sentiment Shift: Traders are now looking forward to "Moonvember," hoping for a rebound in Bitcoin's price due to potential ETF approvals and favorable economic indicators, despite current macroeconomic pressures.
Investor Caution: Rising bond yields and regulatory uncertainties are contributing to a cautious sentiment among investors, impacting Bitcoin's ability to maintain upward momentum.
Future Outlook: Analysts suggest that if October ends negatively, it could disrupt long-standing seasonal trends for Bitcoin, potentially delaying significant price increases until 2026 or later.
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