Bitcoin Rainbow Chart predicts BTC price for October 31, 2026

What happened

Bitcoin's long-term valuation model, the Bitcoin Rainbow Chart, indicates the cryptocurrency is below its historical trend valuation as October begins. Bitcoin traded at $84,584, above its 50-day SMA of $78,136 and 200-day SMA of $71,404, after failing to reclaim $90,000.

Confirmed

Global impact / market context

Bitcoin's position above both moving averages suggests the broader uptrend remains intact, which may influence investor positioning. If valuation bands sit well above current prices, long-term holders might view this as a potential accumulation zone, affecting demand and capital flows into crypto assets.

Analyst inference

The Rainbow Chart is designed to gauge long-term valuation rather than forecast month-end prices, so its signals carry limited short-term predictive power. Bitcoin's failure to reclaim $90,000 indicates resistance, while staying above key moving averages signals underlying technical strength for investors.

Analyst inference

What to watch

1. Watch whether Bitcoin can reclaim the $90,000 level, a move that could open the door to a push toward six-figure valuations, according to the article. Confirmed
2. Monitor whether Bitcoin holds above its 50-day and 200-day simple moving averages, which are $78,136 and $71,404, to confirm the broader uptrend remains intact. Proposed
3. Observe if Bitcoin's price moves toward the Rainbow Chart's October 31 valuation bands, as this could signal long-term value recognition and influence investor positioning. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• finbold.com