BITCOIN BUILDING STRENGTH? Uptober back on?

Bitcoin’s price action occurred as September’s US nonfarm payrolls print came in at 254,000, significantly higher than the expected 147,000. The unemployment rate slid to 4.1% from 4.2% in September, versus forecasts for 4.2%.

As a result, market participants have begun pricing in a whopping 97% possibility of a 25 basis point interest rate cut at the Federal Reserve’s next meeting on Nov. 7 following an aggressive half-point move in September, as per data from CME Group’s FedWatch tool.

Another possible driver behind the idea of an “Uptober” and a fourth-quarter rally for Bitcoin is the continued decrease in BTC held on centralized exchanges.

Data from CryptoQuant suggests there are over 2.8 million BTC in total on centralized exchanges, the lowest number since November 2018 and 500,000 less than the amount seen in March.
Also remember guys, this is not financial advice and I am not a financial advisor. This is just me expressing my opinion.