4E: Bitcoin starts strong in October, institutions optimistic about long-term allocation

ChainCatcher news reports that, according to 4E observations, Bitcoin performed strongly in October, reaching an all-time high. Historical data shows an average increase of about 21% in October. The Bitfinex Alpha report indicates that the current rally is primarily driven by reduced selling pressure and an improved macro environment—large whale sell-offs have noticeably slowed, the Federal Reserve has shifted to a dovish stance, inflation has receded, and ETF funds are flowing back in, all suggesting that the market correction phase may have ended.

Bitcoin has restored its high correlation with gold, with both reaching historical highs recently. Gold has increased by over 50% this year, while Bitcoin has risen about 33.5%. Analysts believe that if Bitcoin continues to follow gold's trajectory, it may see significant upward movement by the end of the year. David Marcus, co-founder of Lightspark, stated that if Bitcoin's market cap matches that of gold, its price could reach $1.3 million, and "breaking into seven figures is just a matter of time."

Deutsche Bank economists further predict that by 2030, Bitcoin may appear on central bank balance sheets like gold. The bank points out that Bitcoin's scarcity and anti-inflation characteristics are driving its transformation from a speculative asset to a reserve asset.

Meanwhile, NYSE-listed company Hyperscale Data (NYSE American: HSDT) announced an expansion of its Bitcoin treasury to $41 million, currently holding 90.6 BTC, and plans to continue increasing its holdings in the open market.

4E reminds investors: the narrative around Bitcoin is shifting from "risk asset" to "reserve asset," and with dual support from macro easing and institutional accumulation, the fourth quarter market is worth watching.