Bitcoin's October "Golden Week" Performance Falls Short, but Outlook Remains Bullish
Bitcoin (BTC) is currently facing a critical juncture as its traditional "golden week" in October concludes, challenging its historical pattern of significant gains. Despite a brief surge, BTC has struggled to maintain the expected 7% increase, putting its established seasonality into question.
Historically, October has delivered 7% upside during specific seven-day periods since 2015. This year's October "golden week" saw BTC/USD briefly hit $116,000 but has since retreated. Network economist Timothy Peterson noted that for gains to be sealed, Bitcoin needed to reclaim $116,000 by Wednesday's close. Current "golden week" gains stand at approximately 4.5%, a disappointment for bulls.
Despite this shortfall, Peterson's broader research suggests a more optimistic outlook, with projections of new all-time highs above $160,000 by December, aligning with the 30th percentile of Bitcoin seasonality. Macroeconomic factors, including anticipated US Federal Reserve rate cuts and potential US-China trade deal finalization, could provide significant tailwinds for crypto. Technical indicators also offer promising short-term signals.


Cryptovka
Bitcoin Struggles to Secure "Golden Week" Gains, Eyes $160K by December
Bitcoin (BTC) is currently facing a critical juncture as its traditional "golden week" in October draws to a close, challenging its historical patt...








