Bitcoin is once again at the centre of a heated debate, with traders divided on whether the cryptocurrency is headed for a correction towards $60,000 or preparing for a rally that could push it as high as $140,000. The uncertainty comes as October, historically a volatile month for digital assets, begins with conflicting signals.
Calls for a correction
A number of analysts warn that Bitcoin could first repeat past patterns by falling sharply before resuming any longer-term rally. They point to technical indicators suggesting that momentum has slowed, with overbought conditions leaving the market vulnerable to a pullback. A retreat to $60,000, they argue, would not necessarily undermine the broader bull trend but could shake out speculative positions.
Optimists see a rally ahead
Others, however, predict that Bitcoin is gearing up for a significant surge, with price targets ranging from $100,000 to $140,000. Bulls argue that strong institutional demand, coupled with ongoing interest in exchange-traded funds, is providing solid support. They also highlight supply constraints following the latest halving cycle, suggesting that fundamentals could fuel another leg higher.
Market sentiment remains divided
The divergence of views reflects the wider uncertainty surrounding global markets. While inflationary pressures and central bank policies continue to weigh on risk assets, Bitcoin has shown resilience compared with other asset classes. Sentiment surveys show traders nearly evenly split between those expecting a retracement and those forecasting record highs.
Historical context
Bitcoin’s track record in October has been mixed, with past years seeing both sharp rallies and sudden drops. Analysts note that in previous bull markets, temporary corrections often preceded stronger gains, making the $60,000 scenario plausible before any upward push. At the same time, the prospect of new inflows from institutional investors makes the bullish case equally compelling.
What comes next
With Bitcoin hovering near key technical levels, traders say the next few weeks will be crucial. Whether the cryptocurrency dips before climbing higher or breaks out immediately, the outcome will likely define sentiment for the remainder of the year.
Newshub Editorial in Global – 28 September 2025
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