Bitcoin vs. history: BTC price teases 7% gains as 'golden week' ends
Bitcoin must reclaim $116,000 by Wednesday's close to secure its historical 7% 'golden week' gain for October.Summary
Bitcoin (BTC) is running out of time to achieve its historically standard 7% gain for the October "golden week," which ends on October 29th. Network economist Timothy Peterson noted that since 2015, BTC has typically seen three such successful seven-day periods annually, in February, March, and October. To meet this historical benchmark, the BTC/USD pair needs to gain about 7%, and currently stands at around 4.5% for the period, requiring a reclaim of the $116,000 level by the Wednesday daily close after a recent dip from that high. Despite the immediate pressure, Peterson's broader seasonality tracking suggests the current bull market remains on course for new all-time highs above $160,000 in December. Market sentiment may also be supported by expected interest rate cuts from the US Federal Reserve and potential trade deal progress between the US and China.
(Source：Cointelegraph)