Bitcoin Holds Above $30k as 'Uptober' Nears End, But Fed Looms Large Over Crypto's Bullish Bets
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Bitcoin starts the week trading comfortably above $30k after closing its highest weekly candle since May 2022. Further upside toward $40k is on some traders' radars.
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The monthly close of "Uptober" is nearing, with Bitcoin's bullish momentum from last week still in play. However, some still warn of potential downside toward $20k.
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Macro uncertainty continues with focus on the Fed's upcoming rate decision. Bitcoin has diverged from stock market correlation recently, signaling a crypto bull market per some.
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Bitcoin network fundamentals like mining difficulty and hash rate are hitting all-time highs, underscoring faith in further upside.
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The Crypto Fear & Greed Index matches November 2021 levels, showing "greed" is back after months of muted sentiment.