Bitcoin kicked off October with a price surge, breaching the $28,000 mark, but its ability to sustain this level is still in question.

The largest cryptocurrency marked its most robust weekly close since mid-August, creating anticipation for potential price gains this month, even as mining difficulty is predicted to decrease in the upcoming adjustment on October 2.

However, some traders remain cautious, pointing to possible price dips based on trends in the exchange order books.

At the start of the month, major US macroeconomic indicators are expected to be relatively quiet, as the potential government shutdown has already been averted.

Investor attention will be closely focused on communications from the Federal Reserve in the lead-up to the next FOMC meeting scheduled for November 1.

Although Bitcoin's price has been significantly influenced by global liquidity changes since the onset of the COVID-19 pandemic, financial commentator Tedtalksmacro has observed a divergence between net US dollar liquidity and Bitcoin's price.

Tedtalksmacro suggested that the path of least resistance for Bitcoin may be sideways or upward in the years ahead.