$BTC Bitcoin's Neutral Market Sentiment Could Be Temporary
October has historically been a good month for Bitcoin, trending up on several occasions, partly because it coincides with the start of summer in the northern hemisphere, when economic activities intensify. đđ If this pattern repeats itself, the market may enter greed mode again in the coming days.
This optimism is reinforced by the US interest rate cut cycle and positive expectations towards the end of the year, especially with the presidential election in November, where bipartisan support for the Bitcoin ecosystem could further strengthen sentiment. đșđžđŒ In addition, an announcement of inflation reduction in the US is expected tomorrow, which could push markets higher by increasing liquidity. đâĄïžđ
In this scenario, traders' sentiment could improve, unless new obstacles arise. Meanwhile, $BTC Bitcoin is still trading around $62,000, recovering from $60,000 last week following geopolitical tensions. đ°đ
Looks like the market is preparing its next move!
