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

On November 4th, as per Decrypt's report, SynFutures CEO Rachel Lin stated, "The pullback in October may lay the groundwork for the next upward move in Bitcoin's bull market. Such a retracement is often the midpoint of a larger cycle rather than the end point." Historical data also backs up this optimistic interpretation. 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 most strongly performing months, with an average return of up to 42% over the past 12 years. Rachel Lin said, "For November, I anticipate 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.