Bitcoin has finally decided that it is the right time to interrupt a seven-year rally without losses. So, it dipped by nearly 5% in October for the first time since 2018. Market sentiment has turned sour, and investors are becoming more risk-averse, as if someone turned off the music at the crypto party.

As expert Adam McCarthy pointed out, Bitcoin had been rallying alongside gold and stocks to historic highs, but when uncertainty struck, there was no massive Bitcoin buying. Investors found crypto too volatile and too risky during such economic and political turbulence.  

The largest liquidation of crypto positions in history occurred right after Donald Trump eventually slapped a 100% tariff on Chinese imports and imposed restrictions on the export of critical software. The market reacted, but not in the way many hoped.

In mid-October, Bitcoin slumped to $104,782.88, immediately after having hit a record of $126,000 just a few days earlier. Amid such wild volatility, it is no wonder that traders are poised to exit, unwilling to struggle with such epic swings.  

But there is good news: despite the collapse in October, Bitcoin is still expected to finish the year with a gain of over 16%. All in all, the crypto party is going on.