Bitcoin Eyes October Price Range of $78K to $95K
Bitcoin's October has begun on a high note, trading around $84,700 after closing September at $83,563. According to Lacie Zhang, research head at Bitget Wallet, the base scenario for Bitcoin's price in October ranges from $78,000 to $95,000. A key support level is set at $82,000, and a bullish trigger would be reached if Bitcoin breaks above $87,500.
PlanB's data shows that Bitcoin's realized price is approximately $54,000, which means its monthly close is about 54.7% above this figure. The 200-week moving average leaves the realized price 26.6% higher, at around $66,000.
The US jobs report on October 2nd, inflation data on October 14th, and the Fed's decision on October 28th will be crucial in determining Bitcoin's trajectory this month. Lacie Zhang cautions that seasonality alone is not an investment thesis.