Bitcoin has shown a steady upward trend over the past month, climbing from late August lows near $108,000 to recent highs above $117,000, suggesting a market pause before its next move.

Historically, Bitcoin's performance around September FOMC meetings has often preceded strong rallies, with recent patterns driven more by seasonal factors than by Fed rate decisions.

Two leading crypto analysts are optimistic about Bitcoin's prospects in 'Uptober,' citing historical trends and recent asset performance as supporting evidence for a bullish outlook.

Compared to gold's 36% gain and the S&P 500's 9% increase since its post-election peak, Bitcoin's modest 7% rise indicates potential for a significant upward move in the near future.

Technical analysis from CoinDesk Research shows Bitcoin consolidating above $116,000, with a recent peak of $117,317 and support around $116,400, pointing to a stable short-term trend.