Bitcoin Targets $90,000 in October 2026 as Fed Hike Odds Decline

Bitcoin remains in a bullish position as it approaches October 2026, holding steady above the key support level of $78,000 after a successful breakout in August. Currently trading near $83,259, the cryptocurrency is targeting $87,400 and $90,000, supported by strong historical performance in October. Over the past 15 years, Bitcoin has ended the month higher in 10 instances, with a median gain of 11.2%. This historical strength, combined with the recent slide in Federal Reserve hike odds below 50%, is boosting confidence in further price upside.

The recent pullback from the $87,400 high has not compromised the overall bullish structure, as Bitcoin continues to stay above all major weekly moving averages. Despite a 1.42% dip this week, the August breakout remains intact, clearing a descending trendline that had capped price since the October 2025 peak above $125,000. However, CryptoQuant data shows that spot demand has shrunk by about 170,000 BTC in the past 30 days, which may introduce some caution for traders.

The first level of support lies at the 100-week moving average, currently around $78,000, which is crucial for maintaining the bullish outlook. Traders should also monitor CEX/DeFi flow risks as spot demand continues to decline. Despite these factors, the overall sentiment remains optimistic, with Bitcoin poised to potentially reach $90,000 by the end of October.