Bitcoin has been oscillating around $83k-$85k since September 23rd, following a strong push from $76k to $87k the previous week. Historically, October has been a bullish month for Bitcoin, with gains recorded in 10 out of 13 years. The adjusted MVRV ratio crossed above the 1.0 baseline on September 20th, marking the sixth early bull-to-bull regime transition since 2012. However, unrealized profit margins reached 33%, the highest since December 2024, and profit-taking selling spiked to 25.7k BTC, signaling a risk of deeper correction.
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