Bitcoin price picked a 6% nudge in upward movement on Oct. 11 to bounce above $63k. On many bulls’ minds is whether the doldrums of the past week are over and the historically bullish October that sees Bitcoin surge could be here. What does this mean for Bitcoin Dogs? Will the BTC related token explode if the flagship digital asset begins to rally?
Here’s what analysts are saying about BTC and also Bitcoin Dogs (0DOG).
A notable dip over the past week, which also saw the benchmark cryptocurrency struggle, has Bitcoin Dog’s native token 0DOG hovering around $0.0063.
Bitcoin jumps 6% to $63k
A few weeks ago, Bitcoin price surged past the $62,000 level as the market cheered the U.S. Federal Reserve’s 50 basis points interest rate cut. Sentiment is positive around the potential for another cut.
Investors see chances of a big rate cut in November being there, and for whatever slashing – the odds are pretty solid on both the CME and traders on Polymarket. Combined with other tailwinds, it could be a reset for BTC ahead of a bull run in 2025.
Last week’s downturn followed the intense flare up in tensions in the Middle East, with Iran’s attack on Israel and the subsequent threat of all-out war driving investors into full mode de-risking. The picture remains overall uncertain, but despite huge liquidations, it’s like the shakeout is done.
CryptoQuant analysts point to the rising stablecoin balances on crypto exchanges as a bullish signal for BTC price. The correlation is that demand is about to go into the roof.
Crypto analyst Benjamin Cowen says Bitcoin’s price surge has bulls eyeing its “bull market support bands.” Bouncing off these could help buyers strengthen the upside momentum.
Is Bitcoin Dogs price going up?
Weakness across the crypto and broader risk-on assets could spell bad news for 0DOG. However, analysts are bullish about the price of Bitcoin going into the U.S. election.
“Uptober”, a reference to the cyclical performance of the digital gold asset in this month, may be signaling just that. Will Bitcoin Dogs, the first-ever ICO on Bitcoin and increasingly attractive play-to-earn/NFT project, follow suit?
Some coins have experienced the surge amid various tailwinds.
This week, the Bitcoin Dogs team has teased its upcoming game. With the sneak peek has been details such as the in-game P2E token BARK being live. At the launch of the Bitcoin Dogs Game, 0D0G holders will be able to benefit from BARK airdrops.
A look at the BRC-20 market, data from CoinGecko shows a 10% increase in market cap to over $1.72 billion. ORDI, SATS and PUPS have all recorded decent gains. This outlook suggests the pioneering Bitcoin ICO project, which is looking to tap into real utility with its game and NFTs, may be worth a look at current prices.
To learn more or buy 0DOG, go to listing exchanges Gate.io and MEXC or visit the official website.
