BTC price eyes record monthly close: 5 things to know in Bitcoin this week
Bitcoin rebounded to $114,500, eyeing a record monthly close amid anticipation of a Fed rate cut and positive US-China trade news.Summary
Bitcoin (BTC) staged a significant rebound to $114,500, reclaiming the 21-week EMA, as traders look toward a potential record monthly close. Market sentiment is buoyed by expectations of a 0.25% Federal Reserve interest rate cut this week and positive developments in US-China trade talks, which removed tariff-related uncertainty. Despite the recovery, some analysts remain cautious, noting low volume and bearish divergences on higher time frames, with one suggesting a Head & Shoulders reversal setup below $109k. An AI simulation, however, suggests a credible target of $125,000 before the end of October, linking price action to rate policy. Furthermore, short-term holders are back in profit (SOPR above 1), indicating renewed investor confidence, though this level historically precedes minor corrections.
(Source：Cointelegraph)