Bitcoin Breaks Its Bull Run: October Ends in First Loss in Seven Years
After seven years of uninterrupted October gains, the world’s largest cryptocurrency, Bitcoin, has finally stumbled. The digital asset recorded a nearly 5 percent decline over the month, breaking its long-standing streak of autumn surges, according to a report by Reuters.
Analysts attribute the downturn to global market uncertainty and a decline in investor risk appetite. The sharp drop followed U.S. President Donald Trump’s announcement of 100 percent tariffs on Chinese imports and threats of export restrictions, which triggered one of the largest crypto liquidations in history.
Between October 10 and 11, Bitcoin’s price fell to $104,782.88, a steep slide from its record high of $126,000 just days earlier.
“At the start of October, Bitcoin was rising alongside gold and the stock market, but once uncertainty crept in, investors didn’t return to Bitcoin,” said Adam McCarthy, senior analyst at Kaiko.
Adding to the turbulence, uncertainty over potential Federal Reserve rate cuts and a halt in U.S. economic data releases due to a government shutdown fueled further market instability.
Meanwhile, Jamie Dimon, CEO of JPMorgan Chase, has warned that U.S. stock markets could face a significant correction within the next six months to two years.
Despite October’s setback, Bitcoin remains up more than 16 percent so far this year. Experts believe that pro-digital asset policies under the Trump administration may rekindle long-term investor interest in Bitcoin and other cryptocurrencies.
