Bitcoin (BTC) is set to record a second consecutive October loss, falling 4.10% since the start of the month. Despite this, four signals related to price, positioning, on-chain data and the macroeconomic environment remain bullish. Galaxy and Santiment interpret some indicators as signs that a price floor may be forming, while Glassnode data shows that recent buyers have become less active. Bitcoin’s record performance in November nevertheless warrants caution, given the seasonality of its price movements.
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