Bitcoin Heads for a Red October With 4 Bullish Signals Still Intact

Bitcoin (BTC) is heading for a second straight losing October, down 4.10% since the month began. Yet 4 signals across price, positioning, on-chain data, and macro still lean bullish. Galaxy and Santiment see signs of a bottom, while Glassnode data shows recent buyers have cooled off. Bitcoin’s November record, however, gives reason for caution. Bitcoin Keeps Its Grip on the 50-Week Average The price has slipped since BeInCrypto flagged 4 problems facing Bitcoin in early October. Its long-term chart structure, however, has held. Galaxy research head Alex Thorn reads the 200-week average as Bitcoin’s bear-market floor and the 50-week as its ceiling. Bitcoin tested the floor in June and reclaimed the ceiling in September after 44 weeks below it.

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