Bitcoin’s October Slowdown Masks Strength, Analysts Predict Catch-Up With Gold

Core Insights - Bitcoin is currently trading around $111,000, showing steadiness despite a slight decline of 1.2% over the past 24 hours, indicating potential strength rather than weakness [1][2] - Analysts suggest that Bitcoin's performance may soon align with gold, with expectations of significant upward movement in the near future, potentially reaching $150,000 by year-end [3] Market Performance - Bitcoin's price has decreased to $111,500, while other cryptocurrencies like ether and XRP have seen steeper declines of 3%, and solana and dogecoin have dropped approximately 2% [2] - Gold and silver prices have surged to new record highs, contrasting with Bitcoin's recent performance [2] Analyst Perspectives - Quinn Thompson from Lekker Capital believes Bitcoin will soon catch up to gold, predicting a significant move similar to past surges in November 2024 and October 2023 [3] - Matt Mena from 21Shares emphasizes Bitcoin's resilience amid global uncertainty, attributing its stability to structural demand driven by ETF inflows and a dovish policy outlook [3] Federal Reserve Influence - The Federal Reserve's monetary policy decisions are crucial, with indications of growing weakness in the labor market suggesting potential rate cuts in upcoming meetings [4] - Fed Chair Jerome Powell acknowledged "softness" in the labor market, reinforcing expectations of further policy easing [5]