Bitcoin Hits 4-Month Peak at $71.5K Amid Bullish Momentum
Bitcoin has shattered the $70K barrier in October as predicted, now trading at a four-month high of $71,500. This surge puts BTC within striking distance of its March 2024 all-time high (ATH) of $73,750—just 3% away. Analysts suggest a new record could be achieved this week, fueled by:
- Political tailwinds from US election speculation
- Technical breakthroughs including a golden cross formation
- Heightened FOMO as 98% of wallets now profit
- Institutional demand with $3B ETF inflows in two weeks
Key Drivers Behind Bitcoin’s Rally
1. US Election: Trump’s Pro-Crypto Stance Boosts Confidence
Growing bets on a Trump victory are driving optimism. The Republican candidate has positioned himself as crypto-friendly, pledging regulatory support that could accelerate adoption. Prediction markets currently favor Trump over Democrat nominee Kamala Harris.
👉 Why institutional investors are bullish on Bitcoin
2. Technical Breakout Signals Further Gains
Bitcoin’s chart shows compelling bullish signals:
- Golden Cross: 50 SMA crossed above 200 SMA
- Descending Channel Breakout after 7 months
- Next targets: $80K** (psychological resistance) → **$100K (long-term benchmark)
3. FOMO Metrics Highlight Market Greed
- Fear & Greed Index at 72 (highest since July)
- 98% of wallets are profitable, reducing sell pressure
- Rising holder confidence attracts new buyers
4. Institutional Demand Hits Record Pace
Bitcoin ETFs recorded $479M in daily inflows** on October 28, with BlackRock leading at $315M. The firm now holds 400K+ BTC**, nearing Satoshi-scale ownership.
FAQs: Your Bitcoin Rally Questions Answered
Q: Will Bitcoin break its ATH before November?
A: With current momentum and institutional inflows, a pre-election ATH is plausible. Technicals suggest minimal resistance until $73.7K.
Q: How does Trump’s potential win affect crypto?
A: His pro-regulation stance may reduce industry uncertainty, potentially attracting more institutional capital.
Q: Are ETFs the main driver of this rally?
A: While ETFs amplify demand, the rally is multifaceted—political sentiment, technicals, and retail FOMO all contribute.
Q: Should I buy Bitcoin now?
A: Markets remain volatile. Dollar-cost averaging (DCA) can mitigate timing risks for long-term holders.
👉 Explore secure crypto trading strategies
Outlook: What’s Next for Bitcoin?
Bitcoin’s path to $100K looks increasingly credible if:
- ETF inflows sustain momentum
- Macro conditions (election, Fed policy) remain favorable
- Technical supports hold above $68K
Disclaimer: Trading cryptocurrencies involves significant risk. Conduct independent research before investing.
### SEO-Optimized Notes:
- **Keywords**: Bitcoin ATH, BTC rally, Trump crypto, Bitcoin ETFs, golden cross, FOMO, institutional demand
- **Structure**: Hierarchical headings, bullet points for scannability, embedded FAQs