A significant shift in market dynamics may be imminent as new money flows into the space. Bitcoin recently hit a monthly high of $64,000, triggering short positions totaling $21 billion. If Bitcoin moves past key resistance levels, these shorts could be liquidated, pushing the price higher. Many expect Bitcoin to hit $66,000, with potential for $70,000.

Bullish momentum is driven by proximity to the Halving event's typical 170-180 day rally window, currently at 155 days. However, Bitcoin is still stuck in a bearish descending channel, suggesting caution.

This weekend is crucial, with BTC hovering around $63,000. Indicators are mixed, signaling both bullish and bearish possibilities. A close above $65,000 by month's end could spark an October rally, while failure may result in continued consolidation.