Weekly forecast: Bitcoin price poised for modest rebound after ETF outflows
Bitcoin closed October with a decline of more than 7%, disappointing many retail investors who had expected a rally during “Uptober.”However, November — traditionally a strong month — could restore faith in the “digital gold,” supported by greater macroeconomic clarity and renewed optimism.
At the time of writing, BTC is trading above $110,200, ending the week slightly lower. The RSI remains below neutral, while the asset is consolidating in a tight range between the 200-day SMA ($109,600) and shorter-term averages of $110,400–$114,000, according to the MA Ribbon indicator on the daily chart.
4-hour Bitcoin price chart for October. Source: TradingView.
Meanwhile, the MACD suggests weakening bearish momentum, raising hopes for a mild price recovery early next week.
This potential rebound could be supported by the recent Federal Reserve rate cut and positive political signals that may help restore retail investor confidence.
Recovery will require more optimism
Last week, Bitcoin ETFs recorded outflows of $580 million, but improving sentiment could reverse this trend. Optimists argue that the current Bitcoin cycle still has room for growth.
“Recent accumulation and institutional inflows are supporting buying momentum rather than short-term spikes. If exchange outflows persist and ETF demand stays high, BTC could test and potentially break above $120,000 in the coming weeks,” said analyst Viktoras Karapetyants.
Still, technical indicators suggest that any near-term rise will likely be limited, as the market may need more time to regain confidence.
As we wrote, Bitcoin price prediction: BTC consolidates as sentiment weakens ahead of FOMC meeting
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