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Bitcoin climbs back to $109,000 after dipping to $106,000.
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October’s performance disappointed traders, ending with sharp volatility and macro-driven sell-offs.
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Market sentiment improves slightly as November — historically a stronger month — begins.
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Traders are watching for breakout signals after BTC spent months locked in a narrow range.
Bitcoin has managed to stabilize above $109,000 after yesterday’s slide to $106,000, giving traders a small but welcome sign of relief. The rebound comes right after a turbulent October, a month that failed to deliver the typical seasonal strength crypto investors often expect.
What caused the late-month weakness? A combination of renewed macro concerns and shifting risk sentiment. Comments from Federal Reserve Chair Jerome Powell about uncertain paths for future rate cuts spooked markets, pushing traders into risk-off mode. At the same time, escalating U.S.–China trade tensions resurfaced, triggering broad selling across both traditional assets and digital currencies.
BTC’s drop of more than 3% extended a broader decline that began shortly after the Fed announced a modest 25 bps cut — a move that many expected to ignite more optimism than it actually did.
A Disappointing October Leaves Traders Looking for Direction
October started with high expectations. Historically, the month has delivered several strong rallies, leading to the crypto community’s nickname: “Uptober.” This time, though, the rally never fully materialized.
Bitcoin briefly touched $125,000 early in the month before giving up that momentum as institutional activity cooled and macro uncertainty grew. The situation worsened on October 10, when U.S.–China tariff worries unleashed a wave of selling, dragging BTC from around $117,000 down to the $108,000 area.
On that day alone, Bitcoin fell nearly 10%, while major altcoins suffered even deeper cuts — some losing 20–40% before finding support again. While BTC eventually bounced back toward $113,000, the month overall painted a picture of hesitation rather than strength.
Institutional behavior reflected that same cooling sentiment. MicroStrategy, one of Bitcoin’s largest corporate holders, purchased just 778 BTC in October — a steep 78% decline from September’s buying pace. Its total holdings still exceed 640,000 BTC, but the slowdown hints at cautious behavior across the broader market.
Altcoins followed Bitcoin’s choppy path. Ethereum slipped below $3,790, Solana dipped under $187, and yet Bitcoin’s dominance stayed firm near 57%, signaling consolidation rather than panic.
