Analyst: Bitcoin's October Pullback Could Set Stage for Next Leg Up, EOY Target at $120-150K

BlockBeats News, November 4th, according to Decrypt's report, SynFutures CEO Rachel Lin stated, "The October pullback may set the foundation for the next leg up in Bitcoin's bull market. This kind of retracement is often the midpoint of a larger cycle rather than the endpoint."

Historical data also supports this optimistic interpretation, as Bitcoin's average return for the third quarter remains positive at 6.05%. It is also worth noting that November has historically been one of Bitcoin's strongest performing months, with an average return of up to 42% over the past 12 years.

Rachel Lin stated, "For November, I expect to see a period of stability with cautious optimism. Bitcoin may trade sideways at the beginning of the month as the market digests the Fed's remarks, but once there is a clear policy shift, it could trigger a rebound."

She also mentioned that if Bitcoin continues to follow the typical post-halving trend, "it is still possible for Bitcoin to reach $120,000 to $150,000 by the end of 2025," citing strong fundamental support such as ETF fund flows and institutional custody solutions.