Coinbry

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$40K Bitcoin Price Predictions Surge as Bitcoin Outperforms S&P 500 in October

$40K Bitcoin Price Predictions Surge as Bitcoin Outperforms S&P 500 in October

– Bitcoin is currently trading around $34,000 and is expected to remain in a range of $33,000 to $35,000 for some time.

– Open interest in Bitcoin has recovered to levels seen before the recent uptick, indicating potential stability in the market.

– On-chain monitoring resource Material Indicators flagged a downside signal, but stated that a move above $38,850 would invalidate the bearish implication.

– Bitcoin has outperformed the S&P 500 since September, with the odds of continued upside still good.

– Recent resistance levels are close to flipping to weekly and monthly support, indicating potential bullish momentum.

– Bears have few options left and the weekly and monthly closing below key levels would be their last hope.

– This article does not provide investment advice and readers should conduct their own research before making any decisions.

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