Bitcoin Opens October With Fresh Push Toward 95K

The leading cryptocurrency started the month near 85,000 dollars after finishing September at 83,563. Roughly 71 percent of all coins are now sitting above their purchase price, and the price remains comfortably above long-term moving averages.

Institutional buying provided the main fuel. U.S. spot Bitcoin ETFs pulled in 2.4 billion dollars last week, while Strategy added another 1,665 BTC, bringing its holdings to 847,666 coins. At the same time, leverage in the futures market has eased.

October has historically been strong for Bitcoin, delivering positive returns in ten of the past thirteen years with an average gain near 19 percent. Bitget Wallet’s Laci Zhang sees 82,000 dollars as the key support and 87,500 as the trigger that could open the door to 95,000.

The structure remains bullish, yet analysts caution that a sharp dip may still occur to flush out over-leveraged positions before any sustained advance.

Based on information from https://cryptonews.net