The Middle East faces further escalation of tensions, while Bitcoin has a difficult start in October, the traditional peak season

The escalating tensions in the Middle East have led to a difficult start for Bitcoin in the traditional peak season of October, with an early decline of about 3%. After Iran launched missiles at Israel, Bitcoin experienced its largest drop in nearly a month, with a trading price of around $61,825. Despite historically strong performances in October, geopolitical risks have made the market cautious. The trading director of liquidity provider Arbelos Markets believes that this sell-off is temporary and that the market may rebound in the future due to potential interest rate cuts by the Federal Reserve and the new government's cryptocurrency-friendly policies