Bitcoin, the world’s leading cryptocurrency, has experienced a challenging month, falling for the seventh consecutive day and trading at around $109,900. This marks a 3% decline for the week, as the broader cryptocurrency market capitalization dips below $3.8 trillion. Many investors are facing uncertainty as Bitcoin’s performance in October is on track to be the worst in a decade.
Historically, October has been a strong month for Bitcoin, but this year, global tensions, such as the U.S.–China trade dispute and a partial government shutdown, have overshadowed typical seasonal rallies. Bitcoin has dropped approximately 5% this month, with many looking for reasons behind this downturn.
Despite these challenges, institutional interest in Bitcoin remains strong. BlackRock, a major investment management firm, is launching its first Bitcoin-linked exchange-traded product (ETP) in the UK. This move signals continued confidence in the cryptocurrency market, even amid volatility.
However, not all news is positive for retail investors. A recent report revealed that retail investors have suffered approximately $17 billion in losses due to speculative investments in companies holding Bitcoin in their treasury. These companies’ stock prices were often inflated, leading to significant losses when market corrections hit.
Looking ahead, Mike Novogratz, CEO of Galaxy Digital, believes Bitcoin’s price could stabilize between $100,000 and $125,000 by the end of 2025, barring any major shifts in the market.
As the crypto market continues to face turbulence, all eyes remain on Bitcoin's resilience and the impact of institutional moves on its future trajectory.
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