Bitcoin Eyes $90,000 Target as Fed Hike Odds Slide Below 50%
Bitcoin's price prediction for October remains bullish, targeting $90,000 after breaking above its August high. The cryptocurrency has been trading near $83,259.34 and is still above all four major weekly moving averages despite a recent dip. According to CryptoQuant, spot demand has shrunk by about 170,000 BTC over the past 30 days, which could impact Bitcoin's short-term trend.
The breakout in August cleared a descending trendline that had capped price since October 2025, and the pullback from the $87,400 high hasn't damaged that structure. The first cushion for Bitcoin is the 100-week exponential moving average (EMA), at $78,712.73, with the 50-week EMA at $78,003.75 just below it.
Bitcoin has a history of performing well in October, closing higher in 10 out of the last 15 years with a median gain of 11.2%. The recent record is strong but not uniform, with five straight October gains from 2020 to 2024 followed by a 3.93% decline in 2025.
US spot Bitcoin ETFs took in $2.4 billion in the week ending September 25, their largest weekly intake since October 2025. The odds of a quarter-point hike on October 28 have fallen below 50%, which could support Bitcoin's price.