"Bitcoin price has rebounded slightly to $109,600 after yesterday's dip to $106,000, ending what has been a tumultuous October for bitcoin. Traders are now cautiously optimistic as the market transitions from the failed "Uptober" rally to the historically stronger month of November. Yesterday, Bitcoin tumbled over 3% amid renewed risk-off sentiment sparked by Federal Reserve Chair Jerome Powell's hawkish comments on future rate cuts and renewed U.S.-China trade tensions."
"Bitcoin entered October with high hopes for "Uptober," a seasonal trend historically associated with double-digit gains. Early in the month, Bitcoin briefly touched $125,000, only to give back much of those gains amid macroeconomic jitters and slow institutional activity. On October 10, the bitcoin price dropped sharply to the $108,000 range from $117,000 as the U.S.-China trade tensions and new tariffs triggered a market-wide sell-off."
Bitcoin rebounded to about $109,600 after a recent dip to $106,000, capping a volatile October. A failed "Uptober" rally saw Bitcoin briefly hit $125,000 before giving back gains amid macroeconomic jitters and slow institutional activity. On October 10, Bitcoin plunged from $117,000 to the $108,000 range as U.S.-China trade tensions and new tariffs triggered a market-wide sell-off. The low marked roughly a 10% drop for Bitcoin and larger declines for other cryptocurrencies, though recovery pushed prices back toward $113,000 at times. Institutional accumulation slowed, altcoins weakened, and Bitcoin dominance held near 57% as traders eye November.
Read at Bitcoin Magazine
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