Bitcoin News Today: Bitcoin’s Fourth Quarter Surge: Impact of Trade Disputes, Stronger Dollar, and Evolving Global Economic Strategies
- Bitcoin fell nearly 15% in October 2024, its worst quarterly start since 2022, driven by U.S.-China trade tensions, dollar strength, and macroeconomic caution. - A 100% U.S. tariff on Chinese imports and Fed rate-cut delays exacerbated selloffs, triggering $1.3B in liquidations during a flash crash below $103,000. - Key support levels at $107,000 and $101,150 face retests as traders warn of further declines, with market cap dropping below $3.6T amid fragile liquidity. - Wintermute denied Binance lawsuit
Bitcoin experienced a steep decline of almost 15% in October, making it the weakest start to a quarter since 2022. This drop was driven by escalating trade disputes, a strengthening U.S. dollar, and cautious global economic sentiment. By early November, Bitcoin had slipped below $108,000, and experts cautioned that breaching crucial support thresholds could lead to deeper losses in an already unstable market, according to a
Both retail and institutional participants are now preparing for a possible retest of major support areas. On-chain data points to $107,000 as a critical threshold, a
The market’s vulnerability was highlighted on October 10, when a $1.3 billion liquidation occurred as
Adding to the uncertainty, Wintermute—a leading crypto market maker—refuted speculation that it was suing Binance over the flash crash, which erased $20 billion in leveraged trades, according to a
Although the fourth quarter is typically a strong period for Bitcoin, the current trend has bucked historical norms. Institutional interest in Bitcoin reached its lowest point in seven months at the start of November, contrasting with the influx of newly mined coins and raising doubts about the rally’s durability, Cointelegraph reported. As traders contend with changing tariffs, central bank decisions, and fragile market confidence, whether Bitcoin can stay above $100,000 may determine if 2025 brings further corrections or sparks a broader recovery.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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