Bitcoin’s rise to around $66,000 is due to several economic factors and global market influences. One of the main reasons is the release of inflation data in the United States, which was lower than expected. This slight decrease in inflation has increased the chances that the US Federal Reserve will cut interest rates soon, which enhances Bitcoin’s appeal as a haven asset for investors, especially with growing concerns about a possible economic recession in 2025.

In addition, October is often considered a positive period for cryptocurrency markets thanks to the historical pattern known as “Uptober,” where previous years have seen significant increases in Bitcoin during the last quarter of the year. Analysts’ expectations indicate that the rise may continue, especially with the increasing enthusiasm due to the upcoming US elections, as the victory of a candidate who supports cryptocurrencies may push prices to higher levels.

In short, Bitcoin is expected to remain on an upward trajectory in the near term, but economic and political risks remain a major factor affecting the market’s direction.

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