Bitcoin’s price today, October 29, 2024, is around $71,024, representing a strong upswing amid bullish momentum following the U.S. Federal Reserve’s recent interest rate cuts. This rally has pushed Bitcoin to levels near its all-time high, partly due to increasing institutional demand and optimism surrounding Bitcoin Exchange-Traded Funds (ETFs). October, often dubbed “Uptober” for its historical upward trend, has continued to attract investors seeking returns as macroeconomic conditions support crypto assets  .

This price increase also reflects a trend of long-term holders reconsidering their positions, which could lead to some market volatility as selling pressure increases. Analysts suggest that for Bitcoin to maintain momentum and surpass $72,000 or even $73,000, it will require continued favorable macroeconomic conditions and sustained investor interest, especially as U.S. election developments could further shape regulatory attitudes toward cryptocurrency  .