Bitcoin’s October Lull Hints at Strength, Analysts Predict Catch-Up With Gold
Despite a relatively subdued October, Bitcoin (BTC) near $110,000 is holding steady, with analysts signaling potential for a breakout in the coming weeks.
Although BTC’s October pace has been slower than usual, its stability around $111,000 is being viewed as a sign of resilience rather than weakness. Over the past 24 hours, Bitcoin fell 1.2% to $111,500, while broader crypto markets saw slightly larger declines: Ether and XRP dropped 3%, and Solana and Dogecoin lost about 2%. Meanwhile, gold and silver surged to new record highs, and U.S. equities remained in positive territory.
Analysts Stress Patience
At Wednesday’s Digital Asset Summit in London, Quinn Thompson, CIO of Lekker Capital, highlighted that Bitcoin is poised to catch up with gold. “We expect the move to begin very soon,” he said, comparing the expected rally to Bitcoin’s previous strong runs in November 2024 and October 2023.
Matt Mena, crypto research analyst at 21Shares, emphasized Bitcoin’s durability amid global uncertainty, pointing to structural demand supported by ETF inflows and a more dovish Fed outlook. With leverage largely cleared from the market and monetary easing approaching, Mena forecasts that Bitcoin could reach $150,000 before the end of 2025.
Fed Policy Remains a Key Factor
Much of Bitcoin’s near-term trajectory depends on the Federal Reserve’s actions. The Fed’s Beige Book highlighted signs of a softening labor market, reinforcing expectations of rate cuts at its remaining policy meetings this year.
Fed Chair Jerome Powell acknowledged labor market “softness” without committing to specific rate changes, supporting the market’s view that further easing is likely, which could provide additional support for Bitcoin.
