Bitfinex Identifies Key October Events Impacting Bitcoin
- Bitfinex tracks a total of 17 macro catalysts for October, including inflation and spending data.
- The Bitcoin market saw a 6% rise in September, driven by $2.5 billion in net U.S. spot ETF inflows.
- The Federal Reserve’s meeting on Oct. 27-28 is pivotal, with the rate announcement on Oct. 28.
- Upcoming Consumer Price Index data on Oct.14 could influence the Fed’s decision-making process.
- U.S. bitcoin ETFs continued inflows, attracting $66.19 million on Sept.29, marking nine consecutive sessions of gains.
October presents a critical period for Bitcoin as economic indicators like CPI and the Federal Reserve’s decisions could affect market dynamics significantly.
Continued spot buying remains essential to offset higher Treasury yields competing with cryptocurrency holdings, as noted by Bitfinex’s macro outlook for October.Source
