Bitcoin Defies September Slump, Eyes 'Uptober' Gains! đ
In a surprising twist, Bitcoin has bucked the historical trend of negative returns for September, boasting nearly 9% gains! Currently trading above $64,000, experts are buzzing about the potential for continued bullish momentum. đ
Matrixport reports that Bitcoinâs funding rate has returned to near zero, suggesting futures traders aren't heavily leveraged. This opens the door for more long positions, hinting at further price growth. Spot buying seems to be driving the rally, indicating strategic, long-term investments. đ
Market analyst Matthew Hyland notes that a weekly close above $65,000 would mark a significant trend shift, reinforcing Bitcoin's comeback. With 80% of Bitcoin supply in profit, the bull cycle appears strong. As October approaches, dubbed "Uptober," anticipation is high for Bitcoin to reclaim its peak. đ
Analyst Michael van de Poppe predicts Bitcoin could break its all-time high in Q4, with altcoins also set for a significant rally. Buckle up, BTC enthusiasts, exciting times ahead! đ
