On October 2nd, escalating tensions in the Middle East sparked cautious sentiment in global markets, leading to a decline in the crypto market. Data reveals that Bitcoin fell by roughly 4% in the first two days of October, starkly contrasting with the average 20% rise observed throughout October over the past decade.

Sean McNulty, Head of Trading at liquidity provider Arbelos Markets, views the sell-off as a "temporary setback" considering the Federal Reserve's initiation of interest rate cuts. He also expects a more crypto-friendly government after the US Presidential election in November. "October has historically been a strong month for Bitcoin, and this seasonal trend still holds true," he added. (Bloomberg)