The seventh "Uptober" for Bitcoin is coming – and the numbers suggest it could be a reality

Here's an interesting thing that less attentive traders often miss: Bitcoin has a strange but consistent relationship with October. We're talking about a pattern that has repeated for seven consecutive years, and current signals indicate that 2024 could be another chapter in this success story.

**What makes Bitcoin surge in October?**

It's not magic, it's the market. Historically, October marks the beginning of the institutional "buying season." Meanwhile, miners adjust their selling strategies, creating a delicate balance between supply and demand. Add to that traders' anticipation of the year's final periods, and you have a classic formula for appreciation.

Current data shows Bitcoin trading at $87.37K, with mixed movement in the last few hours (+0.08% in 1h, but -0.85% in the last 24h). The trading volume of $1.09B reflects significant activity, suggesting that major players are closely monitoring.

**Why this time could be different**

The macroeconomic context is not negligible. Global inflationary pressures continue to push investors toward alternative assets. Bitcoin's market capitalization at $1.744T demonstrates its solidity as a store of value. Additionally, the proximity of the spot ETF approval cycle in various jurisdictions adds fuel to the optimism.

Historically, the maximum price has already reached $126.08K – far from science fiction for the coming months. The question is not "if" Bitcoin will rise in October, but "how much" and "how fast."

**What to watch**

Stay alert to resistance levels near $90K. If Bitcoin breaks above with consistent volume, we're looking at a much more bullish scenario. Conversely, drops below $85K would signal caution.

The seventh "Uptober" may be forming. The numbers, at least for now, support the optimists.