Bitcoin Ends Seven-Year October Gain Streak Amid Tariff Shock

Bitcoin experienced its first October loss in seven years, dropping nearly 5% amid heightened market volatility and geopolitical tensions, including President Donald Trump's imposition of a 100% tariff on Chinese imports and threats of export controls. This downturn broke a historical pattern of gains during the month, with Bitcoin plunging to lows around $104,782 before a partial recovery near $110,000. Market analysts noted that despite this setback, Bitcoin still posted a 16% gain for the year, supported by regulatory shifts under the Trump administration that favor digital asset growth. Investor sentiment reached extreme fear levels during the dip, often seen as a contrarian indicator signaling potential market bottoms, as Bitcoin rebounded from the $107,000 support level. The Federal Reserve's cautious monetary policy stance and ongoing geopolitical conflicts further contributed to market uncertainty, impacting both cryptocurrencies and broader equities. Meanwhile, Ethereum and other major cryptocurrencies showed mixed performance, reflecting the broader risk-off environment.