Bitcoin, the world’s largest cryptocurrency, is on track to end October with a nearly 5% decline, as global market volatility and fading risk appetite have weighed on digital asset performance.
The month witnessed one of the largest crypto liquidations in history, triggered after U.S. President Donald Trump announced a 100% tariff on Chinese imports and threatened export restrictions on key software.
Bitcoin tumbled to $104,782.88 between October 10–11, just days after reaching a record high above $126,000. The sharp sell-off underscored the asset class’s volatility, with even major tokens like bitcoin and ether seeing 10% intraday declines.
October ends with investors uncertain about the global monetary policy outlook, as the U.S. Federal Reserve signaled caution on further rate cuts amid a government shutdown that has delayed key economic data.
Adding to investor anxiety, JPMorgan Chase CEO Jamie Dimon warned earlier in the month of a possible significant correction in U.S. stock markets within the next six months to two years, citing stretched valuations.
Despite the recent dip, bitcoin remains up over 16% year-to-date, supported by improving sentiment toward cryptocurrencies.
Digital assets have also benefited from Trump’s pro-crypto stance, which has led to the dismissal of multiple lawsuits against major crypto platforms and prompted regulators to draft dedicated rules for digital assets.
