Bitcoin Records Fourth Worst October Since 2013, Down 13% from High

As October ends, Bitcoin (BTC) did not meet expectations, closing the month down and 13% below its all-time high. Despite this, BTC remains up by 55% year-to-date.

Key Insights

October was Bitcoin's fourth-worst performance since 2013, trailing behind the S&P 500's 2.3% gain during the same period.
Market strategist Joel Kruger highlighted that historical trends suggest potential recovery in Q4, traditionally a strong period for crypto.
October saw significant market events, including the largest liquidation in cryptocurrency history, partly due to geopolitical tensions such as tariffs on Chinese imports.
Adam McCarthy from Kaiko noted the impact of these liquidations, emphasizing Bitcoin's vulnerability to rapid price declines.
Concerns about high equity market valuations persist, with Jamie Dimon warning of potential corrections in the US stock market.
Jake Ostrovskis pointed out ongoing caution among market participants following the major liquidation event.

Bitcoin is currently trading at $109,688, slightly below its support level of $110,000.

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