• BTC was up by more than 20% over the last 30 days.
• Most metrics looked bullish, but market indicators like RSI supported the bears.

Bitcoin [BTC] has enjoyed a comfortable rally over the last few weeks, thanks to bullish market conditions. Over the first month of Q4 2023, BTC’s price surged by more than 22%. 

Read Bitcoin’s [BTC] Price Prediction 2023-24

The uptrend has given investors hope that BTC will reach new highs ahead of its upcoming halving. While this happened, it must also be taken into account how BTC’s metrics reacted as we enter November.

A look at Bitcoin’s performance in October 

Over the last month, the king of cryptos has managed to push its price up considerably as its value spiked by more than 23%. In the last seven days, the coin’s price went up by more than 1%.

According to CoinMarketCap, at the time of writing, it was trading at $34,439.75 with a market capitalization of over $672 billion. A look at Santiment’s chart revealed that BTC’s trading volume surged substantially during its price uptick.

Thanks to that, the coin’s 4-week price volatility has also gained upward momentum in the recent past. Bitcoin’s popularity over the last month also remained high, as evident from the spike in its social dominance.

BTC’s weighted sentiment also went up quite a few times in October, meaning that positive sentiment around BTC was dominant.

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Author: Dipayan Mitra

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