Bitcoin (BTC) has achieved its highest monthly close since May 2022, with a nearly 30% price gain in October, leading to increased hopes for the Bitcoin bull market. Despite a choppy mid-month trading environment, Bitcoin hodlers were rewarded with a strong finish similar to the initial breakout in October. October has been identified as the second best-performing month of 2023, with a 28.5% gain. Traders are optimistic about the current market conditions, with expectations of a new bullish phase for BTC/USD. On-chain monitoring resources suggest that while bullish momentum is still present, it may be waning compared to last month. Market participants anticipate increased volatility due to the upcoming announcement of the United States Federal Reserve’s interest rate policy, which could potentially affect BTC price action. Traders are calling for a tap of the $36,000 mark following the Federal Open Market Committee (FOMC) announcement. However, readers are advised to conduct their own research and exercise caution when making investment decisions.