‘Uptober’ Hopes Rise as Bitcoin Holds Above $111K

[nihalsari]

Bitcoin traders are looking to October’s bullish history after the cryptocurrency plunged to $102,000 on Friday, triggered by U.S. President Donald Trump’s tariff announcement on China. Since then, BTC has recovered to above $111,000, fueling hopes of a sharp rebound.

Economist Timothy Peterson noted that October’s rare 5%+ drops have historically been followed by rebounds of up to 21%. If Bitcoin repeats its strongest October move — the 2019 surge — the asset could revisit $124,000 in the coming days.

Samson Mow of Jan3 said, “There are still 21 days left in Uptober,” while analyst Michael van de Poppe called the pullback “the bottom of the cycle.”

[jacson4]

Holding above $111K is a strong psychological sign. Bulls clearly have control for now.

[kelson10]

If BTC can keep that level through the weekend, it could set the tone for a powerful mid-month breakout.