BTC price nears 2023 highs — 5 things to know in Bitcoin this week

Bitcoin BTC$30,591 starts the last week of October in classic style as 3% BTC price gains take cryptocurrency markets higher.

In what could yet turn out to be a classic “Uptober” for Bitcoin and altcoins, BTC/USD is back near 2023 highs as a resistance battle brews. Can the bulls win?

That is the key question for traders and market observers going into the week’s first Wall Street open as Asia sets the tone for a crypto comeback.

Given the extent of resistance to overcome, however, traders are playing it safe, with lofty

BTC price predictions less evident than expected, and few believe that the road beyond $32,000 will open up quickly or easily.

Bitcoin must also dodge potential headwinds in the form of macroeconomic data prints at a time when inflation continues to beat expectations.

Ahead of the United States Federal Reserve’s interest rate decision on Nov. 1, the month’s final prints will be all the more significant. Geopolitical events, meanwhile, add another element to market unpredictability.

With much at stake for crypto and risk assets, the week thus looks to be a rollercoaster in the making as Bitcoin bulls seek to effect a major trend change via a breakout from a multimonth trading range. #bitcoin #crypto2023