4E: Bitcoin got off to a strong start in October, and institutions are optimistic about long-term allocation

On October 9th, according to 4E observation, Bitcoin performed strongly in October, setting a new record high. From the historical data, the average increase in October was about 21%. The Bitfinex Alpha report pointed out that the main reason for this round of rally is the weakening of selling pressure and the improvement of the macro environment - the giant whale selling has slowed down significantly, the Federal Reserve has turned pigeon, inflation has fallen, and ETF funds have re-entered, all indicating that the market correction stage may have ended.
Bitcoin has regained its high correlation with gold, which has recently hit record highs. Gold is up more than 50 per cent this year, compared with about 33.5 per cent for bitcoin. Analysts believe that if bitcoin continues to follow the trend of gold, it may usher in a significant upward trend by the end of the year. David Marcus, co-founder of Lightspark, said that if the market value of bitcoin is equal to gold, its price will reach 1.30 million US dollars, and it is "only a matter of time before it breaks seven digits".
Deutsche Bank economists have further predicted that bitcoin could end up on central bank balance sheets like gold by 2030, pointing out that bitcoin's scarcity and anti-inflation characteristics are transforming it from a speculative asset to a reserve asset.
At the same time, NYSE-listed Hyperscale Data (NYSEAmerican: HSDT) announced the expansion of its bitcoin treasury to $41 million, currently holding a total of 90.6 BTC, and plans to continue to increase its holdings in the open market.
4E reminds investors that the bitcoin narrative is changing from "risk assets" to "reserve assets". Under the dual support of macro easing and institutional holdings, the fourth quarter market is worth paying attention to.