{"id":139562,"date":"2024-10-13T14:00:36","date_gmt":"2024-10-13T11:00:36","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139562"},"modified":"2024-10-13T02:17:43","modified_gmt":"2024-10-12T23:17:43","slug":"bitcoins-october-optimism-dims-as-market-struggles-persist","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/","title":{"rendered":"Bitcoin&#8217;s October Optimism Dims as Market Struggles Persist"},"content":{"rendered":"<p>However, by October 12, <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>struggles to break the $64,000 level, despite a significant uptick the previous month. This has raised concerns among investors about a potential rally, especially with several challenges ahead.<\/p>\n<p>One key issue is the high level of open interest in Bitcoin futures, currently at $35.3 billion, a sign that market peaks could be near. Such conditions often lead to heightened volatility, with profit-taking likely triggering price corrections.<\/p>\n<p>Additionally, recent activity in the spot market has cooled. After a buying frenzy following September&#8217;s price dip, enthusiasm has waned, leaving many traders hesitant to jump back in. This lack of aggressive buying could hinder price support and potentially lead to stagnation or declines.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/qcp-capital-eyes-uptober-rally-for-bitcoin-if-key-this-level-support-holds\/\" title=\"QCP Capital Eyes &#8216;Uptober&#8217; Rally for Bitcoin if Key This Level Support Holds\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/12\/coin_is-bitcoin-returning-to-a-bull-trend-big-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">QCP Capital Eyes &#8216;Uptober&#8217; Rally for Bitcoin if Key This Level Support Holds<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Investor sentiment has shifted toward caution, with many now looking to secure profits. The Fear and Greed Index, resting at 37, reflects this cautious mood, suggesting increased selling pressure is on the horizon.<\/p>\n<p>Macroeconomic trends and global issues further complicate the landscape. While there was hope for interest rate cuts from the Federal Reserve, uncertainty surrounding inflation and employment data remains. Conflicting Consumer Price Index reports make it difficult to anticipate the Fed&#8217;s actions, undermining Bitcoin&#8217;s role as an inflation hedge.<\/p>\n<p>Globally, anticipated stimulus measures in China fell short of expectations, disappointing investors and contributing to Bitcoin&#8217;s downturn. The recent lack of concrete plans from the National Development and Reform Commission (NDRC) added to the market&#8217;s unease, coinciding with a significant drop in the Hang Seng index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>October has not lived up to its promising reputation for Bitcoin. Traditionally, this month has brought strong gains, often dubbed \u201cUptober,\u201d with Bitcoin averaging nearly 23% in returns since 2013. In standout years like 2021, it even soared by 40%.<\/p>\n","protected":false},"author":3,"featured_media":38632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-139562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin&#039;s October Optimism Dims as Market Struggles Persist<\/title>\n<meta name=\"description\" content=\"October has not lived up to its promising reputation for Bitcoin. Traditionally, this month has brought strong gains, often dubbed ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin&#039;s October Optimism Dims as Market Struggles Persist\" \/>\n<meta property=\"og:description\" content=\"October has not lived up to its promising reputation for Bitcoin. Traditionally, this month has brought strong gains, often dubbed ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/\" \/>\n<meta property=\"og:site_name\" content=\"Cryptodnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-13T11:00:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-9-11.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexander Stefanov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Stefanov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/\"},\"author\":{\"name\":\"Alexander Stefanov\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\"},\"headline\":\"Bitcoin&#8217;s October Optimism Dims as Market Struggles Persist\",\"datePublished\":\"2024-10-13T11:00:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/\"},\"wordCount\":254,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-9-11.jpg\",\"articleSection\":[\"Bitcoin\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptodnes.bg\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/\",\"name\":\"Bitcoin's October Optimism Dims as Market Struggles Persist\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/bitcoins-october-optimism-dims-as-market-struggles-persist\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-9-11.jpg\",\"datePublished\":\"2024-10-13T11:00:36+00:00\",\"description\":\"October has not lived up to its promising reputation for Bitcoin. 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