Massive Bitcoin Move Imminent: 7 Key Reasons Behind The Bullish Outlook

Ronaldo Marquez

7 months ago

3 mins read

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Bitcoin (BTC), the largest cryptocurrency by market capitalization, is showing signs of a potential breakout, according to analyst Miles Deutscher.

Historically, October has been a strong month for BTC, and recent trends suggest that the cryptocurrency may be on the verge of a substantial upward movement. Over the past week alone, the Bitcoin price has surged more than 13%, approaching its all-time high of $73,700 set in March of this year.

Increased Global Liquidity And Low Supply

Deutscher notes that Bitcoin has been consolidating above critical support levels for much of the year, positioning it for potential expansion. Despite numerous failed breakouts in the past, which have led to a general distrust among traders, the analyst believes that this environment may create an opportunity for a significant price increase.

Many retail investors remain sidelined, as indicated by Bitcoin’s current ranking on Coinbase and declining Google search interest in the cryptocurrency. This may suggests that the market force known as fear of missing out (FOMO), has yet to set in among investors.

The macroeconomic backdrop also supports Bitcoin’s potential for further gains. Increased global liquidity—now at its highest level in three years—has historically influenced Bitcoin’s price positively.

Deutscher also emphasizes that as equity markets begin to recover, Bitcoin tends to follow suit, often correlating closely with the S&P 500. Additionally, Bitcoin’s supply on exchanges has reached an all-time low, suggesting that a supply squeeze may be imminent.

The analyst contends that this trend indicates that fewer BTC are available for trading, which could drive prices higher as demand increases.

October To April As ‘Boom Period’ For Bitcoin

Deutscher also emphasized in his analysis the upcoming US presidential election, which he believes adds another layer of complexity to the market. The analyst speculates that a victory for former President Donald Trump could lead to favorable market reactions, with Bitcoin potentially positioned as “a pillar of US financial stability.”

The Republican candidate has made a number of promises, the most notable being plans to make Bitcoin a reserve asset for the country, with the aim of using it to reduce the $35 trillion national debt, further supported by pro-crypto Senator Cynthia Lummis.

Seasonality also plays a role, according to the analyst. Deutscher explains that the period from October to April 2025 is traditionally seen as a “boom period” for cryptocurrencies.

While Bitcoin needs to break out of its current range—potentially facing resistance around $70,000—Deutscher believes this breakout is likely, especially given the substantial short interest in Bitcoin.

At the time of writing, BTC is trading at $66,940, down 1.5% in the 24 hour time frame, as it has encountered significant resistance at the $68,000 level, preventing it from tackling the biggest resistance yet at $70,000.

Featured image from DALL-E, chart from TradingView.com

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

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With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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