Bitfinex Sees Bitcoin Gains Hinging on Continued Spot Buying in October

Bitcoin's October gains may be influenced by economic releases and monetary policy decisions, according to Bitfinex. The exchange has identified 17 macro catalysts that could impact Bitcoin in October, with inflation data and Federal Reserve actions taking priority.

The upcoming Consumer Price Index (CPI) release on Oct. 14 is particularly significant, as it may influence the Fed's decision on Oct. 28. Bitfinex attributes September's approximately 6% advance to roughly $2.5 billion in net U.S. spot ETF inflows during the three weeks through Sept. 29.

For Bitfinex, October will test whether purchases remain strong enough to sustain gains against higher inflation-adjusted returns on government debt. The exchange sees a continued bid for Bitcoin as essential to offsetting these pressures.