[QCP: Still optimistic about Bitcoin's strong performance in October, CPI data will be the focus this Thursday] Golden Finance reported that QCP released a daily commentary analysis saying that after a turbulent start, the rise in October seems to be back on track. Bitcoin's current price is comparable to last Monday's level. The "Uptober" storytelling, coupled with strong non-farm payrolls, helped Bitcoin find strong support around $60,000. The upcoming HBO Bitcoin documentary has also brought more mainstream attention to cryptocurrencies, especially MEME tokens associated with Len Sassaman, which have also begun to gain attention. Despite a poor start last week, option flows still point to a bullish fourth quarter. With further rate cuts planned and Bitcoin's strong correlation with stocks, it remains optimistic about a strong performance in October. This Thursday's US Consumer Price Index (CPI) will be the focus. Recent strong US wage and employment data will keep the market closely watching whether there are signs of rising inflation. Fed rate cut expectations were cut from 50 basis points to 25 basis points in a week, and this week’s data may determine whether further rate cuts are priced in.
