🔵With optimism in October, a correction is taking place in the cryptocurrency market, raising concerns among investors. According to Santiment, mentions of “Uptober” have significantly decreased since the beginning of the month, giving way to bearish sentiments and ironic “Selltober” references. The total market capitalization has dropped by $210 billion, and Bitcoin fluctuates around $61,000, losing 4.7% over the month.
🔵Historically, October has been favorable for Bitcoin, but the current situation is complicated by increasing regulatory pressure and geopolitical tensions, including the U.S. elections and the conflict in Israel. Analysts expect these factors to impact the market but emphasize the potential for a short-term rebound.
🔵Despite the fluctuations, some experts remain confident in the long-term potential of cryptocurrencies, believing that market recovery is possible after the stabilization of geopolitical conditions.