Bitcoin's Bearish Outlook Persists in October

According to analysis from Bitcoinist, the price of Bitcoin has been under significant pressure, extending its struggles over the past week. This downturn has fueled a pessimistic sentiment within the broader digital asset market throughout October. Notably, despite an interest rate cut decision by the United States Federal Reserve on Wednesday, October 29, Bitcoin's price exhibited a tame reaction, failing to gain upward momentum and instead falling beneath the critical $110,000 psychological threshold. This suggests that the asset may be in the final stage of its bull cycle, raising questions about when the peak will occur and the potential for further price depreciation.