The historical performance of Bitcoin during October, a month often referred to as "Uptober" due to its tendency for a late-month rally after an early drop.

Based on the patterns from previous years (2020, 2021, 2023), we see that early drops of 4% to 7.5% were followed by impressive late-month gains of 28% to 47%.

If this trend repeats, the current drop of 6.5% in early October 2024 could indeed be setting the stage for another major pump.

Many traders start turning bearish when prices drop into the $40K-$45K range, and as you've pointed out, that could trigger a reversal and lead to an upward surge.

With this kind of market behavior in mind, it's possible we could witness a strong rally in the second half of the month.

Keep an eye on key support levels, market sentiment, and institutional activity to gauge how this plays out!

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