Bitcoin Set to Record Monthly Close as BTC Price Remains Under ‘Worst Case Scenario’ – News Couple
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Bitcoin Set to Record Monthly Close as BTC Price Remains Under ‘Worst Case Scenario’


Bitcoin (BTC) made fresh retests of the $60,000 support on October 31 with a few hours left until the crucial monthly close.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Pending monthly closing record by topic

Data from Cointelegraph Markets Pro and TradingView showed lackluster price action on Sunday, with BTC/USD falling under the “worst case scenario” to the October close.

Analysts have been eagerly waiting to see if the end of the month can provide a turnaround and validate the worst-case theory for the third consecutive month.

Its creator, PlanB, the father of the stock-to-flow model, guessed the $47,000 and $43,000 finals for August and September, respectively.

Even without success, an October finish above $60,000 would represent many accomplishments in and of itself.

As Cointelegraph previously noted, Sundays tend to see a weaker performance of Bitcoin this month, with Monday contrasting the mood with a show of strength – particularly in the US Open.

“BTC Daily Says Get Ready for November,” Famous Trader and Analyst TechDev sum up per day, focusing on the next month.

BTC/USD 1 month candle chart (Bitstamp). Source: TradingView

Shiba Inu has ended its altcoin slowdown

Altcoins staged copycat moves as bitcoin dwindled, as the top ten cryptocurrencies by market capitalization saw modest losses over the past 24 hours.

Related: Bitcoin Eyes Third Weekly Close Above $60K, As Ethereum Increases Altcoin Market Capitalization Record

Last week’s star Shiba Inu (SHIB) lost even more, down 13% at the time of writing, but still posting a 45% weekly gain.

Sentiment mimics the lack of upside, with the Crypto Fear & Greed indicator showing “greed” in recent days.

Crypto Fear & Greed Index as of October 31. Source: Alternative.me