When looking at Bitcoin’s historical performance, the quarter of the year usually stands out as one of the strongest periods.
Over the past 9 years, Bitcoin has returned over 35% in the last three months. This is considered a very positive indicator for the world of digital currencies.
Based on this historical data, Marcus Thielen, head of research at Matrixport, suggested that Bitcoin could reach the $37,000 level by the end of 2023. This forecast creates significant expectations among investors.

October in particular stands out as a strong month for Bitcoin. Over the past nine years, Bitcoin returns in October have generally been positive, averaging around 20%. This suggests that Bitcoin could potentially rise in October.

Another notable topic for Bitcoin is expected in October. There is a second deadline for applications for second-tier funds (ETFs) on the Bitcoin exchange, and the Securities and Exchange Commission (SEC) will announce its decision to approve or minimize these ETFs in October. This decision can have a significant impact on the digital currency market.

In short, the Matrixport report suggests that Bitcoin could show a strong performance in the last quarter of the year, reaching $37,000. A positive month for Bitcoin and a favorable outcome for the ETF decision raise investor expectations in the cryptocurrency market.

Also tonight, the Federal Reserve will hold a meeting to determine the bank interest rate. In this meeting, the expectations of the members of the Federal Reserve will also be examined, after which the head of the Federal Reserve will clarify the positions of this institution in a news conference.
A halt in interest rate hikes expected this term from the Federal Reserve could bolster a supportive sentiment in the crypto market.

The technical outlook for Bitcoin on the weekly time frame shows that it is well supported by the $24,490-$25,215 bastion. This week, the market reacted more to this support range.
With the price reaching this level in the last month, along with the convergence, price, pattern, time, momentum rotation is also in the imminent oversold range, which this rotation this week will probably increase the continuation of a strong support.