Bitcoin's recent performance has been marked by a dip, with the price hovering around $60,700 due to investor reactions to Federal Reserve comments suggesting less aggressive interest rate cuts. However, this downturn might be temporary, as rising demand for U.S. Bitcoin ETFs has been bolstering investor confidence, with inflows reaching $61.3 million over the past week.
Additionally, analysts suggest that Bitcoin could experience one final dip before a potential breakout later in October. This aligns with historical trends, as October has traditionally been a strong month for Bitcoin, with average gains of around 22.9%. The broader market remains optimistic, expecting Bitcoin's final bullish cycle to begin soon.
Key factors to watch include upcoming U.S. economic data and potential geopolitical developments, such as the Middle East conflict, which could influence investor sentiment in the short term.
