BITCOIN ANALYSIS: WEEK OF OCT 4 (QUICK UPDATE)

Bitcoin, the king of cryptocurrencies, continues to captivate investors and traders alike. The latest bitcoin and crypto news should not be solely restricted to price fluctuations. A comprehensive Bitcoin analysis should deep dive into the technical and fundamental aspects of BTC, exploring the intricacies of the underlying blockchain technology, Bitcoin mining mechanisms, and the potential impact of new layers and upgrades.As we move into October, a month historically known for bullish performance, it’s crucial to take a pulse on its current trajectory. Week 4 (Oct ): With a strong opening of $67,360.70 on October 22, Bitcoin sustained its upward movement, closing the week at $69,907.75. This week s high point was $73,577.21 on October 29, suggesting that the asset had momentum that could push it past the $70,000 mark.This Bitcoin analysis for the week of October 4th provides a quick update on the key factors influencing the BTC price. Forbes' comprehensive source for the latest cryptocurrency news, cutting-edge blockchain updates, Web3 developments, and all things Bitcoin. Latest Editors' PicksWe'll delve into recent technical developments, examine expert forecasts, and explore the potential impact of external economic forces.While previous analysis painted a bearish picture in the short and intermediate terms, recent developments warrant a closer look. CNBC is the world leader in business news and real-time financial market coverage. Find fast, actionable information.From Bitcoin ETF inflows to on-chain metrics, we will explore all that may push the price of BTC, potentially over a significant resistance. Of course, this area closely aligns with a near-term 38.2% Fibonacci retracement zone when analyzing the move from $58,863.90 (October 10th low) to the October 18th highs of $69,000.62 (which isAre we on the cusp of a significant rally, or will historical trends continue to dictate the market? Latest news on Bitcoin (BTC), providing comprehensive coverage of cryptocurrency trading, price movements, adoption news, mining updates, and digital currency regulations. Bitcoin, the world's first and most valuable cryptocurrency, continues to dominate the digital asset landscape with a market capitalisation exceeding $4 trillion as ofLet's dive into the latest Bitcoin news and analyze what the coming days might hold for this dynamic digital asset.

Current Bitcoin Price Overview and Key Levels

As of the latest update, Bitcoin (BTC) is navigating a volatile landscape. Real-time technical chart analysis of Bitcoin price, daily BTC price predictions and expert's forecasts, Bitcoin's resistance and support levels.Despite some dips, Bitcoin finds support, albeit with some fluctuations.Recent technical analysis showed Bitcoin dipped below $60,000 briefly, leading to $144 million in bullish position liquidations, even though historical data suggested October as a bullish month. In today's Elliott Wave update of Bitcoin we identify the key price level the bulls must defend in order to remain in control. Elliott Wave Update of EURUSD May 14th, 2025 EW Pro ForexIt is hovering around $60,700, facing immediate resistance at $61,500. Watch live Bitcoin to Dollar chart, follow BTCUSD prices in real-time and get bitcoin price history. Check the Bitcoin technical analysis and forecasts.Monitoring these levels is crucial for understanding potential breakout or breakdown scenarios.

Key Support and Resistance Levels

• Immediate Resistance: $61,500
• Key Support: Monitor levels between $58,000 and $60,000

These levels represent areas where buying or selling pressure is likely to intensify, influencing short-term price movements.Keeping a close eye on these markers can help traders anticipate potential shifts in momentum.

Technical Analysis and Expert Forecasts

Technical analysis of Bitcoin plays a pivotal role in predicting potential price movements. As of writing before the release of Friday s data, Bitcoin ETFs have seen stellar inflows of over $1.8B over the last four days. Over the long-term, inflows from tradfi investors provide incremental demand for Bitcoin and could help support the price. Source: Farside Investors. Bitcoin Technical Analysis: BTC/USD Daily ChartOne notable observation comes from crypto analyst TechDev, who suggests that Bitcoin is mirroring its 2015 cycle, which saw the cryptocurrency rise significantly.This perspective offers a potentially bullish outlook based on historical patterns.

Mirroring the 2015 Cycle?

If Bitcoin follows a similar trajectory to its 2015 cycle, we could witness a substantial rally.This prediction aligns with the historical Q4 performance, which has averaged a 23.3% return, indicating a strong seasonal trend toward bullish performance. Unlock expert price analysis for Bitcoin, Ethereum, and the week's biggest movers and losers.For in-depth insights and market predictions.However, remember that past performance is not necessarily indicative of future results.

On-Chain Metrics and Market Sentiment

Beyond price charts, on-chain metrics provide valuable insights into the underlying health and sentiment of the Bitcoin network. The company s average purchase price now stands at $42,692 per coin, compared to Bitcoin s current price of $81,700. In other positive news, digital asset investment products attracted a robust $1.98 billion in the past week, marking the fifth consecutive week of inflows.Bitcoin exchange balances hitting new lows signals a growing confidence among investors who are opting to hold their assets rather than keep them on exchanges.This ""hodling"" behavior typically reduces the available supply, potentially driving prices upward.

Bitcoin Exchange Balances: A Sign of Confidence?

The decrease in Bitcoin held on exchanges indicates a shift in investor behavior. Historical Q4 Performance: Bitcoin has averaged a 23.3% return in Q4, showing a strong seasonal trend toward bullish performance. Breaking Significant Resistance: Recent technical analysisWhen investors move their Bitcoin off exchanges and into personal wallets, it suggests a long-term holding strategy, reducing selling pressure and potentially contributing to price appreciation.

Bitcoin ETF Inflows and Institutional Adoption

October witnessed a surge in inflows into Bitcoin ETFs, exceeding $5.4 billion.BlackRock's IBIT led the market, highlighting the growing institutional interest in Bitcoin. On the positive side, Bitcoin (BTC) is showing strong potential for a significant rally, according to insights from TechDev, a prominent crypto analyst. He suggests that Bitcoin is mirroring its 2025 cycle, which saw the cryptocurrency rise from $300 to $20,000.This surge in ETF investments signifies the increasing acceptance of Bitcoin as a legitimate asset class by institutional investors.

Impact of ETF Inflows on Bitcoin Price

The substantial inflows into Bitcoin ETFs demonstrates increased demand for Bitcoin exposure. Bitcoin (BTC) Finds Support at $86,000 after Volatile Week. Bitcoin s price has experienced significant volatility over the past week, influenced by various economic and political developments. As of Saturday, Bitcoin is trading at approximately $86,000, reflecting a 7% decline from its peak earlier in the week.As institutional investors allocate capital to these ETFs, they are effectively buying Bitcoin, which can exert upward pressure on the price. Live Bitcoin price movements from all markets and BTC market cap, use our charts and see when there is an opportunity to buy or sell. BTC $93,835.84-0.50 % ETH $1,792.76-0.58 % USDTContinued strong ETF inflows could further fuel a potential rally.

The Influence of Economic and Political Developments

Bitcoins price is not immune to the broader economic and political landscape. As for a quick word on Trend Lines, use them carefully and at your own risk for several reasons. Bitcoin Analysis: Week of Aug 17 (Intro to Patterns) BTC Price Analysis: Mid-Week Update.Major US economic reports, including job openings, inflation data, and consumer confidence, can significantly influence market sentiment and, consequently, Bitcoins price.Any positive economic news could boost investor confidence, leading to increased Bitcoin buying activity.

How Economic Reports Impact Bitcoin

Key economic indicators serve as barometers of the overall health of the economy. Market Analysis and Updates 📈. Here are the crypto highlights of the day: Crypto Price Update. Bitcoin (BTC): $66,816.34, down 2.2% over the last 24 hours. Ethereum (ETH): $2,618.24, down 3.6% over the last 24 hours.Positive data, such as strong job growth or declining inflation, can encourage investors to take on more risk, potentially benefiting Bitcoin.Conversely, negative economic news could trigger risk-off sentiment, leading to a decline in Bitcoins price.

Analyzing Bitcoins Market Dominance

Bitcoins market dominance recently neared a three-year high, reaching over 58%, as altcoins struggled.This dominance highlights Bitcoins continued position as the leading cryptocurrency and safe-haven asset within the digital asset space.An increase in market dominance means that Bitcoin is outperforming other cryptocurrencies, indicating a flight to safety during times of uncertainty.

Implications of Bitcoins Dominance

When Bitcoins dominance increases, it suggests that investors are prioritizing Bitcoin over altcoins.This trend can be driven by various factors, including risk aversion, regulatory uncertainty, or simply a preference for Bitcoins established track record and liquidity.

Ethereum's Performance Against Bitcoin

While Bitcoin held its ground, Ethereum's (ETH) value fell to one of its lowest levels against Bitcoin since mid-September, Coindesk reported.This relative underperformance of Ethereum suggests a shift in investor preferences towards Bitcoin, potentially driven by specific factors affecting the Ethereum network or a broader market rotation.

Factors Affecting ETH/BTC Ratio

The ETH/BTC ratio reflects the relative strength of Ethereum compared to Bitcoin.Factors that can influence this ratio include technological developments within the Ethereum ecosystem, changes in investor sentiment towards Ethereum, and regulatory developments impacting Ethereum specifically.

Bitcoin Mining and Network Activity

A comprehensive Bitcoin analysis should also consider mining activity and network developments.Increased GitHub commit activity for Bitcoin suggests ongoing development and improvement of the underlying technology.A healthy level of development activity indicates a commitment to the long-term viability and evolution of the Bitcoin network.

Importance of Development Activity

Active development on the Bitcoin network is crucial for maintaining its security, scalability, and functionality.Regular updates and improvements ensure that Bitcoin remains competitive and adapts to the evolving needs of the digital asset landscape.

Potential Scenarios and Price Predictions

Given the current market conditions and technical indicators, several scenarios are possible for Bitcoin in the coming week. October has statistically been a good month for bitcoin, and right now the charts do suggest that momentum is with the buyers. I remain generally bullish on bitcoin, so long as it continues to finish each week above the 21-week EMA. Based on the weekly Bollinger Bands, bitcoin could be putting its slow summer behind it.A sustained break above $61,500 could trigger a rally towards higher resistance levels, potentially reaching $65,000 or even $70,000.Conversely, a failure to hold support around $60,000 could lead to further downside, with potential targets around $58,000 or lower.

Short-Term Price Targets

• Bullish Scenario: Break above $61,500, target $65,000 - $70,000
• Bearish Scenario: Break below $60,000, target $58,000 or lower

The Role of Elliott Wave Theory

Some analysts utilize Elliott Wave theory to identify potential price movements.This theory suggests that markets move in predictable patterns, which can be used to forecast future trends. Bitcoin dipped below $60,000 briefly, leading to $144 million in bullish position liquidations, despite historical data suggesting October as its strongest month with gains averaging 22% sinceAccording to this approach, there are key price levels that bulls need to defend to maintain control of the market.While Elliott Wave theory is a popular tool, its accuracy can vary, and it should be used in conjunction with other forms of analysis.

Defending Key Price Levels with Elliott Wave Theory

Elliott Wave theory can help identify critical support and resistance levels.By analyzing wave patterns, traders can anticipate potential reversals or continuations of existing trends.However, it's essential to remember that Elliott Wave analysis is subjective and requires careful interpretation.

Analyzing Trend Lines for Bitcoin

Trend lines are a common tool used in technical analysis to identify the direction of price movement.By connecting a series of highs or lows, traders can establish potential support and resistance levels. Bitcoin GitHub Activity Development. An overview of development activity for Bitcoin (BTC). The charts show Bitcoin (BTC) Development / GitHub commit activity for the past year, as well as their simple moving average. You can use this data for your fundamental Bitcoin research analysis.However, it's important to use trend lines carefully, as they can be subjective and prone to misinterpretation.A break of a trend line can signal a potential change in trend, but confirmation from other indicators is always recommended.

How to Use Trend Lines Effectively

When drawing trend lines, it's crucial to consider the number of touchpoints and the slope of the line. The Block is a crypto news site giving you the latest breaking news about Bitcoin, Ethereum, Solana and other digital assets. Plus live prices charts for BTC, ETH, SOL and more. Hiring in crypto is hard Campus makes it easy.A trend line with more touchpoints is generally considered more reliable. With Bitcoin exchange balances hitting new lows, it signals rising confidence among investors that are choosing to take control of their own assets rather than leave them on exchanges. Bitcoin ETFs: October saw over $5.4 billion in inflows to Bitcoin ETFs, with BlackRock s IBIT leading the market. This record-setting month underscores theAdditionally, it's important to confirm trend line breaks with other technical indicators, such as volume and momentum oscillators.

The Importance of Fibonacci Retracement Levels

Fibonacci retracement levels are horizontal lines that indicate potential support and resistance areas based on Fibonacci ratios. Bitcoin s market dominance neared a three-year high, reaching over 58%, as altcoins struggled. The cryptocurrency held above $60,000 but faced resistance at $61,500 before settling around $60,700. Meanwhile, Ethereum s ETH fell to one of its lowest levels against Bitcoin since mid-September, Coindesk reported .These ratios are derived from the Fibonacci sequence and are believed to influence market behavior. Bitcoin is having a rough week, slipping to 82,000 despite Donald Trump s attempts to lift market sentiment. But the bigger question is where does it go from here? This week, a series of major US economic reports, including job openings, inflation data, and consumer confidence, will play a crucial role in shaping Bitcoin s next move.A near-term 38.2% Fibonacci retracement zone can be found when analyzing the move from $58,863.90 (October 10th low) to the October 18th highs of $69,000.62.

Using Fibonacci Retracement Levels in Trading

Fibonacci retracement levels can be used to identify potential entry and exit points. To know more about Bitcoin, read whitepaper or visit Bitcoin.org. Useful Technical indicators to know for analyzing live Bitcoin price: Technical Analysis may help to forecast Bitcoin (BTC) price trends, however, do remember that analysis can't make absolute predictions about the future. Therefore, trade with caution.Traders often look for price to retrace to these levels before resuming the original trend.However, it's important to note that Fibonacci levels are not always accurate, and they should be used in conjunction with other forms of analysis.

Latest Bitcoin and Crypto News Updates

Staying informed about the latest crypto news is crucial for understanding the factors influencing Bitcoins price.This includes news related to regulatory developments, technological advancements, and macroeconomic events.Reputable crypto news sources like The Block, Forbes, and CNBC provide comprehensive coverage of the digital asset space.

Staying Up-to-Date with Crypto News

Regularly monitoring crypto news sources can help you identify potential risks and opportunities in the market. In last week s post we concluded with the following statement: Our overall stance remains Long-Term Bearish (with still limited downside), Intermediate-Term Bearish and now also Short-TermThis information can inform your trading decisions and help you stay ahead of the curve.However, it's important to critically evaluate the information you consume and to rely on multiple sources to avoid bias.

A Word on Risk Management

Investing in Bitcoin involves inherent risks, including price volatility, regulatory uncertainty, and security concerns.It's crucial to manage your risk effectively by diversifying your portfolio, setting stop-loss orders, and avoiding overleveraging. Bitcoin technical analysis today live. Trend and overbought / oversold indicators values on all time-frames. X Last update: Wed, UTC.Never invest more than you can afford to lose, and always do your own research before making any investment decisions.

Key Risk Management Strategies

• Diversification: Don't put all your eggs in one basket.
• Stop-Loss Orders: Limit your potential losses.
• Avoid Overleveraging: Don't borrow excessively to trade.

Conclusion: Navigating the Bitcoin Landscape

In conclusion, this Bitcoin analysis for the week of October 4th reveals a complex interplay of factors influencing its price.While short and intermediate-term predictions leaned bearish previously, positive elements like increasing ETF inflows, decreasing exchange balances, and analyst suggestions of a possible mirroring of the 2015 cycle may indicate potential for a rally.The key takeaway is to monitor critical support and resistance levels, stay informed about economic developments, and practice sound risk management.October has statistically been a good month for Bitcoin, so keeping an eye on how it finishes each week will offer more insights.Ultimately, making informed investment decisions requires a comprehensive understanding of both technical and fundamental factors.Will Bitcoin break through resistance, or will it face another dip?Only time will tell.Stay informed, stay vigilant, and trade responsibly.Continue to monitor Bitcoins price movements to gauge if the asset sustains above key support levels.