Bitcoin’s Red October Ends in Disappointing Market Performance

October has concluded with Bitcoin (BTC) ending the month in the red, marking a deviation from its historical ‘Uptober’ trend. This year, market sentiment was dampened by several factors including a near-$20-billion liquidation event triggered by US President Trump’s trade war with China and interest rate cuts at the US Federal Reserve. The decline in Bitcoin’s value suggests potential for an even steeper drop in November as analysts grapple with these events.