**Bitcoin Struggles to Break $66K Amid Global Economic Shifts**

Bitcoin has been unable to maintain levels above $66,000 since July 31, despite a 5.2% gain in early October. Analysts suggest that while U.S. federal debt might influence Bitcoin, short-term price trends are more affected by socio-political events.

Key factors include:

- Global monetary base (M2) increased from $104 trillion in June to $108 trillion in October.

- Bitcoin faced repeated resistance at $68,000.

- Strengthening U.S. dollar, with the DXY index rising to 102.5.

Recent U.S. macro data, including strong September jobs numbers, reduced recession fears but also lowered the likelihood of interest rate cuts. This has made investors more risk-averse, impacting Bitcoin negatively.

Additionally, Bitcoin ETFs saw $335 million in outflows since October 1, reflecting cautious investor sentiment. The macroeconomic environment and upcoming U.S. elections have driven investors towards stock markets and cash positions, keeping Bitcoin below $66,000.