Bitcoin ends October in red, but now enters its biggest month for gains

Bitcoin concluded October with losses but is now entering November, historically its strongest month, with an average gain of 42.51% since 2013, potentially pushing its price past $160,000 if history repeats. Analyst Markus Thielen of 10x Research cautions that seasonal trends must be combined with other factors. Favorable macroeconomic developments expected include potential interest rate cuts by the US Fed and progress on a US-China trade deal. However, ongoing economic uncertainty is fueled by the US government shutdown and existing tariffs. Key developments to watch include easing trade tensions following a meeting between President Trump and President Xi Jinping, which could reverse recent market downturns blamed on tariff threats. Furthermore, the Fed recently cut rates and is set to halt quantitative tightening (QT) on December 1st, moves generally seen as bullish for risk assets like Bitcoin. Conversely, the prolonged US government shutdown is delaying crucial regulatory steps, such as the SEC approving crypto ETFs and advancing the CLARITY Act.

(Source：Cointelegraph)