Bitcoin is on the rise, eyeing the $70K mark following softer inflation data from the Fed. The Core PCE index showed a year-on-year increase of 2.6%, below expectations, boosting market sentiment and speculation about a potential 50 basis point rate cut in November. As investors flock to riskier assets, Bitcoin recently retested $66,000, indicating strong bullish momentum. With October historically favorable for BTC, many are optimistic about its trajectory.
