Bitcoin surges

BTC RALLIED ~ 4% TO ~US$119,450

That's the highest in seven weeks, on the back of forecasts that the Fed may cut interest rates later.

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The crypto market surged during the day, resulting in Bitcoin reaching a seven-week high as October, often a historically bullish month, began.

The price of Bitcoin (BTC) is 118,720 Dolarow Amerika SerikatBy surging more than 4% in the last 24 hours, the world's number one digital asset touched down. 119,450 USDon Coinbase on Thursday morning, according to data from TradingView.

This is Bitcoin's highest price level since Aug. 14. c. Or about seven weeks ago, after starting to rebase from all-time highs.

Currently, Bitcoin has breached that resistance. 117,500 dollarsThen, however, there is still the next major resistance. 120,000 dollarsIf it can pass, it will open the way to a new high. However, the price has been a bit of a lull. The recent pullback is at 118,947 Dolar

This massive move pushes the value of the overall crypto market to skyrocket. 3.5% to $4.16 trillionReady to Restore Sentiment and Positive Expectations in the “Uptober-Month” Crypto Bullish

In addition, the market value of Bitcoin alone skyrocketed. $2.37 trillionAlready higher than Amazon, according to data from CompaniesMarketCap

October is often the most bullish month for Bitcoin each year, with Bitcoin surging 10 times in October over the past 12 years, according to data from CoinGlass.

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sourced

https://cointelegraph.com/news/uptober-underway-btc-approaching-seven-week-high-20k?utm_source=chatgpt.com

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