Weakest October in Six Years: Is Bitcoin Bottoming or Setting a Bull Trap?

Three Things to Know Bitwise raised its long-term bitcoin target to $1.6 million by 2036 in a new institutional report. Bitcoin sits just under its 50-day average while momentum still leans toward sellers. The 200-day average near $76K is the floor that decides whether a bottom forms. Bitwise Asset Management published a bullish decade-long forecast for bitcoin on Oct 28, calling it the likely top institutional asset of the next ten years. The report arrived as the coin limped through its weakest October in six years. The timing sharpens a near-term dilemma for traders. Long-term conviction is rising while the daily chart stays soft ahead of a Fed decision. Traders now want to know whether this quiet slide marks a bottom or sets up a bull trap.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Daily.