Bitcoin Soars Past $86K as Uptober Rally Gains Momentum
The Bitcoin (BTC) price has surged past $86,000, marking a significant upward momentum at the start of the highly anticipated 'Uptober' cycle.
This rally follows a $3 trillion bank raising its Bitcoin price target to $113,000, citing stronger crypto activity, supportive macro conditions, and renewed ETF demand.
The Federal Reserve's comments, with New York Fed President John Williams saying there's 'no need for urgency' to raise interest rates again, have also contributed to the positive sentiment.
The price action has pushed Bitcoin's price toward the upper end of its recent range, with traders now watching whether it can break above the recent swing high of $86,837.30.
Should Bitcoin clear this level, it could open the way toward $87,000, followed by $95,000 and $100,000.