Cryptocurrencies
Bitcoin Totters in Poor Start to Token’s Best Month Historically
- Middle East tension has dented riskier assets such as crypto
- Bitcoin’s average October gain is 20% over the past decade
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Bitcoin speculators banking on a seasonal October melt-up faced an early reality check as deepening tension in the Middle East spurred a bout of caution across global markets.
The digital asset fell 4.7% on Tuesday, the most in nearly a month, after Iran fired about 200 ballistic missiles at Israel in a sharp but brief escalation of hostilities between the two adversaries. The token extended the drop by around 1% on Wednesday, changing hands at around $60,300 as of 4:23 p.m. in New York.