Bitcoin's October Dilemma: Breaking a Seven-Year Winning Streak

Bitcoin is facing its first monthly loss in October since 2018, disrupting a seven-year streak where the cryptocurrency enjoyed consistent gains during the month. The nearly 5% decline comes as Bitcoin navigates through market uncertainties and reduced risk-taking by investors.

Market analyst Adam McCarthy from digital market data provider Kaiko pointed out that Bitcoin, alongside stocks and gold, entered October near all-time highs. However, as uncertainty gripped the market, investors did not pour back into Bitcoin as expected. The month was marked by significant market events, including U.S. President Donald Trump's imposition of a 100% tariff on Chinese imports and threats of export controls on crucial software, which triggered the largest crypto liquidation on record.

Despite October's downturn, which included a dramatic price plunge on October 10-11 to $104,782.88, Bitcoin still boasts a 16% increase for the year. The cryptocurrency sector has seen growth due to supportive regulatory shifts under the Trump administration toward digital assets, contributing to legal victories and potential for future innovation.