Bitcoin Price Begins 'Uptober' With a Swing Back to $85K
Bitcoin opened the new month with seesaw price action, hovering near $85,000 after hitting resistance above that level and finding support near $83,500. Key TakeawaysBitcoin rose to $85,000 on Oct. 1 following Wednesdays PCE data release, easing year-to-date losses.Coinglass data shows daily bitcoin liquidations plunged to just $35 million as market volatility cooled.Citigroup raised its 12-month Bitcoin price target to $113,000, forecasting $5 billion in net ETF inflows. Seasonal Sentiment Shifts to Uptober Bitcoin marked the start of the new month facing resistance above $85,000 as the leading cryptocurrency by market cap experienced typical seesaw price action. The uptick near the $85,000 mark followed Wednesdays release of better-than-expected personal consumption expenditures (PCE) data. The price movement came just hours after bitcoin closed September with net gains, marking its second consecutive positive month. The rare winning streak has shifted market focus toward seasonal “Uptober” sentiment, a historically bullish October trend for digital assets, with prominent, pseudonymous quantitative analyst PlanB going so far as to assert that bitcoin remains “extremely undervalued.” According to market data, bitcoins price began the period by sliding from $84,410 to $83,500, a threshold where it appeared to find strong support. After holding this range until late Wednesday, the cryptocurrency suddenly rallied to









