Bitcoin Rally Faces Fed-Driven Headwinds in October
Bitcoin's recent rally has been impressive, but can it last? The coin gained nearly 44% in three months, supported by rising ETF inflows and renewed interest from institutional investors.
The Federal Reserve's October meeting is a key event that could influence Bitcoin's next major price move. Lower interest rates tend to work in Bitcoin's favor, while a surprise rate hike could undo much of the progress made over the past quarter.
Bitcoin faces resistance near USD 87,400 and support between USD 81,700 and USD 82,800 may help determine its short-term direction. A clean break above resistance could push prices toward USD 90,000 before year-end, while a drop below support may send Bitcoin back toward the USD 74,000 to USD 78,000 zone.
Heavy buying and selling activity has happened at these exact zones before, making them important to track. The Fed's rate decision and ongoing debates over crypto rules will test this rally's strength.