**Bitcoin Struggles Amid Strong US Economy and Stock Market Gains**

Bitcoin briefly soared above $68,400 on Oct. 16, marking its highest level since August. However, it couldn't maintain this peak and is now trading below $67,500. The main question is whether Bitcoin can regain its bullish momentum.

Stronger-than-expected US economic data has dampened investors' interest in alternative assets like Bitcoin. The US Labor Department reported a drop in jobless claims, while retail sales rose by 0.4% in August, indicating a robust economy. This has shifted attention to the stock market, especially after strong earnings from TSMC and Nvidia.

Meanwhile, a potential court win for Ripple against the SEC could signal a more favorable regulatory environment for crypto, possibly boosting Bitcoin's momentum. Analysts are watching closely as the SEC's appeal deadline approaches.