Bitcoin has spent October trading in a wide range, with sharp rallies met by equally sharp pullbacks. Traders are watching whether the price can hold above recent support levels into the end of the month.
Flows into spot bitcoin exchange-traded funds remain a key driver. Strong inflow days have coincided with the month's biggest moves higher, while outflows have tended to cap rallies.
Macro conditions matter too. Expectations for interest rates, the strength of the dollar and broader risk appetite in equities have all moved crypto prices this month.
Options markets suggest traders expect volatility to stay elevated through month end, which leaves room for a breakout in either direction.