Bitcoin’s Record Run Ends in October Turmoil

October began with a bullish wind for Bitcoin enthusiasts as the cryptocurrency surged past its previous record, reaching highs near $126,000. Initial optimism fueled by growing DeFi applications and possible Fed rate cuts, led to a stunning rise. However, market sentiment took a sharp turn on October 10th when Bitcoin experienced a dramatic plunge from around $121,000 to $101,000, before further decline. This sudden downturn left investors feeling uneasy even amidst positive factors like low inflation and promising trade relations between the U.S. and China.