Why Did Bitcoin’s Price Dip? QCP Capital Explains the Latest Market Movements

Bitcoin saw a notable price drop in October, dropping from $110,000 to around $106,000. Cryptocurrency analysis firm QCP Capital attributed this decline to early investors taking profits, but the price remained above the crucial $100,000 mark. Despite approximately 405,000 BTC changing hands in October, QCP Capital’s data shows Bitcoin’s price hasn’t dipped below this threshold. This resilience suggests either the start of a new bull run or early signs of an impending crypto winter, according to their analysis.