Bitcoin recently registered a MACD golden cross for the first time since April, which historically led to a price increase of over 40% within a month. This new signal suggests that Bitcoin could reach a target of $160,000 in October. The MACD golden cross occurs when the MACD line crosses above the signal line, providing an optimistic outlook for short-term price movements. The last significant golden cross happened after the April market dip, leading to a rally that hit a new all-time high. Market sentiment is further bolstered by positive U.S. macroeconomic data, with traders optimistic about potential Federal Reserve rate cuts following positive consumer price index readings. Overall, conditions appear favorable for a bullish trend, with increasing interest in Bitcoin amidst market shifts.

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