Bullet points of Bitcoin’s Poor Start to Bullish October Continues, but There May Be Cheer Ahead for Bulls
Bullet points of Bitcoin’s Poor Start to Bullish October Continues, but There May Be Cheer Ahead for Bulls
- Bitcoin faced a dip below the $60,000 mark, resulting in significant liquidations of bullish positions worth $144 million.
- Despite October historically being a strong month for Bitcoin with an average gain of 22% since 2013, social sentiment indicates bearish views on its price recovery.
- Rising oil prices due to tensions in the Middle East are diverting investor attention to commodities like oil and gold, impacting the overall sentiment on risk assets, including Bitcoin.
- Betting markets suggest mixed feelings but lean towards Bitcoin maintaining a range-bound movement in October.
- Bitcoin faced a dip below the $60,000 mark, resulting in significant liquidations of bullish positions worth $144 million.
- Despite October historically being a strong month for Bitcoin with an average gain of 22% since 2013, social sentiment indicates bearish views on its price recovery.
- Rising oil prices due to tensions in the Middle East are diverting investor attention to commodities like oil and gold, impacting the overall sentiment on risk assets, including Bitcoin.
- Betting markets suggest mixed feelings but lean towards Bitcoin maintaining a range-bound movement in October.