Bitcoin (BTC) has started the week, month, and quarter with a strong bullish move, surpassing $28,000. This marks the highest weekly close for the largest cryptocurrency since mid-August. Market participants are now anticipating potential gains in the coming weeks, as October is historically a month of significant BTC price increases. However, macro triggers may not immediately determine the direction of the market, as the US macro data is quiet at the beginning of the month and the government has avoided a shutdown. Despite the increase in spot price, Bitcoin fundamentals have not echoed the spike. Mining difficulty is set to decrease at its next automated readjustment on October 2. Bitcoin bulls acknowledge the risk of a price reversal, but overall sentiment remains bullish. BTC price action shows the potential for further gains, and traders are closely watching spot order book trends and liquidity. October’s strong start for Bitcoin contrasts with the previous year’s performance, where the price declined. Several market commentators have highlighted the positive trend and anticipate further price increases. Bitcoin network fundamentals, however, do not align with spot market optimism. Difficulty is expected to decrease, even though it reached all-time highs. The relationship between price and hash rate remains a topic of debate among experts. While some argue that price follows hash rate, others claim that hash rate follows price. The upcoming macro events in the US, including the Federal Reserve’s interest rate policy decision, will likely impact market volatility. Traders are closely monitoring the language used by Fed officials for hints about future policy decisions. The overall analysis remains positive for Bitcoin, but liquidity of the US dollar is also an important factor to consider.