Bitcoin started October cautiously, with analysts predicting a potential 5-10% correction before resuming any upward movement. The price currently hovers around $63,980, influenced by China's Golden Week holiday and a slowdown in trading.

Upcoming U.S. macroeconomic events, including unemployment data, could further affect market sentiment.

Traders are preparing for volatility, with a rise in short-term options contracts and a potential post-election rally. Analysts note that Bitcoin's open interest in futures has surged, often signaling price peaks, and a short-term pullback could stabilize the market without disrupting the overall uptrend.