Litecoin

Solana

Bitcoin

Strong

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<p>After a period of bearish behavior, Bitcoin is currently on an upswing, recently <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">reclaiming</a> the $28,000 level and breaking the bearish trend. Some analysts <a href="https://twitter.com/ali_charts/status/1708688457340461360" rel="noopener noreferrer nofollow">now expect</a> the flagship cryptocurrency to sustain this upsurge and cross the $31,000 mark during this historically bullish month.</p> 
<img src="https://u.today/sites/default/files/inline-images/F7Z69drWUAErWkh.jpeg" data-entity-uuid="4c789289-7c9a-4b5c-b745-33d31cb1b272" data-entity-type="file" alt="https://twitter.com/ali_charts/status/1708688457340461360"> 
<h2 id="cautious-optimism">Cautious optimism&nbsp;</h2> 
<p>According to CoinGecko, Bitcoin’s value is up by 4.4% and is currently priced at $28,301. Bitcoin's market cap stands at $552 billion with a 24-hour trading volume of $15.3 billion. This rise in value signifies a break in the prolonged bearish trend that Bitcoin has been experiencing, reviving discussions about its potential growth.</p> 
<p>However, potential investors and enthusiasts should approach this trend with cautious optimism. According to <a href="https://twitter.com/100eyesCrypto/status/1708754095945703838" rel="noopener noreferrer nofollow">data</a> from 100eyes Crypto Scanner, a bearish divergence has been spotted on Bitcoin's one-hour chart.</p> 
<img src="https://u.today/sites/default/files/inline-images/F7a2y78XcAAWMXm.png" data-entity-uuid="1ec1c99d-c2a9-4c05-bd77-3480a2d2d6d8" data-entity-type="file" alt="https://twitter.com/100eyesCrypto/status/1708754095945703838"> 
<p>This divergence between price movement and momentum indicators is seen as a bearish signal, suggesting that despite the increasing prices, the upward movement may be losing strength and a reversal might be forthcoming.</p> 
<h2 id="strong-investment-flows">Strong investment flows&nbsp;</h2> 
<p>On top of <a href="https://u.today/bitcoin-btc-price-hits-2700-on-binance-ceo-cz-breaks-silence" rel="noopener noreferrer nofollow">Bitcoin</a>, smaller peers like Ether, Litecoin and Solana are also experiencing gains, injecting some optimism into the battered crypto market.</p> 
<p>This surge is in part due to <a href="https://www.bloomberg.com/news/articles/2023-10-02/bitcoin-advances-to-six-week-high-as-new-quarter-sees-inflows?utm_medium=social&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic&amp;utm_content=business" rel="noopener noreferrer nofollow">increased buying flows</a>, possibly triggered by the commencement of a new accounting quarter, and optimism is high for a continuation of this rally throughout October.</p> 
<p>However, these investment flows are also influenced by market speculation around the anticipated approval of BlackRock's Bitcoin ETF proposals by the U.S. Securities and Exchange Commission.</p>

Bitcoin (BTC) Price Eyeing $31K After Breaking Bearish Trend

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