ECB interest rate decision out this week
by Tiffany Wang, Analyst
The US consumer prices rose slightly more than anticipated in September, and the year-on-year core rate increased. This signals the Fed may be less aggressive than previously thought. Last week, expectations for an October rate cut shifted towards a 25 bps hike. The key event to watch this week is the ECB interest rate decision on October 17.
Market Overview from WOO X Research
BTC has successfully broken through the daily moving average (MA140) at $62,371, marking the sixth attempt since the March 14 pullback from $73,777.
If BTC can hold above $66,000, it could signal the end of the 210-day correction, with an initial target of $84,000.
However, a drop below $62,371 may lead to a return to the consolidation phase.
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