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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-analysts-evaluate-bitcoin-and-altcoin-trends/" data-wpel-link="internal">Market Analysts Evaluate Bitcoin and Altcoin Trends</a> 
Bitcoin price hovers around the $62,000 mark, with market participants anticipating the expected upward movement. After being stuck in a defined range for over 200 days, cryptocurrencies view the last quarter as their final hope. What are QCP market analysts’ latest predictions for Bitcoin and altcoins? What can stakeholders expect at this stage? 
<h2 style="text-align: justify" id="qcp-cryptocurrency-analysis">QCP Cryptocurrency Analysis</h2> 
The rise in geopolitical tensions hindered a promising start to October, resulting in a performance contrary to the movements observed at the end of September. Altcoins have lost gains that they had taken months to accumulate due to lingering fears. QCP analysts summarize the current situation as follows. 
<blockquote> 
 “The last quarter has seen volatility in risk assets due to the escalation of the Israel-Iran conflict. Concerns regarding Iran’s missile strikes in retaliation to attacks on Gaza have intensified. If Israel targets key infrastructures like Iran’s nuclear or oil facilities, it will shake global markets.” 
 “The non-farm payrolls report released on Friday exceeded expectations, coming in at 254,000 against a forecast of 150,000. The U.S. unemployment rate settled at 4.1% (against an expected 4.2%). Strong data reflects a robust labor market despite last month’s poor outlook.” 
 “A resilient labor market and the potential for additional interest rate cuts later this year boosted risk assets, allowing BTC to briefly reclaim $62,000.” 
</blockquote> 
Experts noting the activity in the options market pointed out a strengthening demand for December call options, reflecting professional traders’ expectations for year-end rallies. 
<blockquote> 
 “With BTC dropping about 5% from last week’s highs, we believe that the recent positive macro data supports our long-held view of an upcoming ‘Uptober’ trend. Given that geopolitical risk remains the primary concern until the U.S. elections, we prefer locking in returns at these levels while positioning for a year-end rally.” 
</blockquote> 
<h2 style="text-align: justify" id="increased-volatility-in-cryptocurrencies">Increased Volatility in Cryptocurrencies</h2> 
In the upcoming days, significant developments will unfold, ranging from Fed minutes to September’s inflation figures. Although investors remain anxious due to the scale of Israel’s retaliation, macroeconomic data may foster a supportive environment for cryptocurrencies. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-394710 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/TOTAL2_2024-10-06_11-50-29.png" alt="" width="1814" height="836"> 
BTC may see a rapid climb if assets like <a href="https://en.coin-turk.com/shiba-inu-shib-ecosystem-reviving-new-peaks-on-the-horizon/" data-wpel-link="internal">SHIB</a>, <a href="https://en.coin-turk.com/garanti-bbva-enhances-crypto-trading-with-new-altcoin-support/" data-wpel-link="internal">AVAX</a>, and <a href="https://en.coin-turk.com/solana-surpasses-ethereum-in-google-searches-for-the-first-time-in-2023/" data-wpel-link="internal">SOL</a>—which have stalled—regain momentum. 
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Market Analysts Evaluate Bitcoin and Altcoin Trends

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