Bitcoin Ends Seven-Year October Winning Streak Amid Historic $19B Crypto Liquidation

Bitcoin experienced its first October monthly loss since 2018, breaking a seven-year streak of gains in what traders call "Uptober," a month historically strong for the cryptocurrency. The decline was triggered by a sharp risk-off move following President Donald Trump's announcement of a 100% tariff on Chinese imports and export controls on key technology sectors, leading to the largest liquidation event in crypto history with over $19 billion in long positions wiped out. Bitcoin dropped from a record high above $126,000 to lows around $104,000 during mid-October, reflecting heightened market uncertainty compounded by the Federal Reserve's indication that further rate cuts are not guaranteed amid a government shutdown. While Bitcoin and other major cryptocurrencies like Ether, Solana, and XRP remained subdued, Binance Coin (BNB) showed resilience, gaining about 4.2% and suggesting growing investor interest in altcoins as alternatives in volatile conditions. Market analysts noted that the crash highlighted the narrow investment value scope within crypto, primarily concentrated in Bitcoin and Ethereum, and underscored the overall market's vulnerability to macroeconomic shocks and monetary policy uncertainty. JPMorgan CEO Jamie Dimon also warned of a potential significant correction in U.S. stocks within the next two years, reflecting broader concerns about risk asset performance in the current economic environment.