Bitcoin News Today: Bitcoin price is expected to reach $160,000 in October as MACD golden cross flashes again

Key Points Bitcoin’s MACD gold cross has appeared for the first time since April, when BTC rose 40% in a month. If history repeats itself, Bitcoin could hit $160,000 from its current level of around $114,500 in October. Weak U.S. inflation data and expected Fed rate cuts are fueling bullish sentiment. Bitcoin gold cross-return to Bitcoin ($114,540 BTC) may be ready to rebound to $160,000 as widely tracked technical indicators show bullish signals. According to trader BitBull, the moving average convergence/divergence (MACD) gold cross appeared on September 5. It was the first signal of such since April, when BTC soared 40% in a month, hitting an all-time high. A signal is formed when the MACD line (the calculation of momentum between two simple moving averages) passes upward through the signal line (the 9-cycle EMA used to measure the buy and sell signals). “This time the MACD crossover appears below the neutral line, which adds momentum to the rebound,” BitBull noted. “The last time this happened, Bitcoin hit a new high shortly afterward.” If this happens again, the BTC/USD price is expected to reach $160,000, consistent with several bullish 2025 cycle targets. Macro tailwinds support this case In addition to the technical aspects, macroeconomic changes are adding momentum to Bitcoin’s rebound potential. Producer Price Index (PPI): Below expectations of wholesale inflation data boosts investor confidence. Consumer Price Index (CPI): The August CPI released on Thursday is crucial to confirming expectations for a rate cut. Federal Reserve Policy: According to the Fed Watch tool of the Chicago Commodity Exchange (CME), traders currently expect a 92% chance of a 25 basis point cut rate cut on Sept. 17. "Inflation is not as bad as expected - cut interest rates later this month," commented by trader Jelle. He suggested that Bitcoin could resume a broader uptrend once macro data confirms the easing environment. Why is $160,000 crucial? If the BTC price exceeds $160,000, it will mean a gain of nearly 40% in a month, similar to the gains in April. This will also bring Bitcoin one step closer to its $170 goal. Other analysts marked the $185,000 to $185,000 range as targets for 2025. While September has been the weakest month for Bitcoin, the Gold Cross + Rate Cut Setting may prove to be a rare exception