Bitcoin’s Poor Start to Bullish October Continues, but There May Be Cheer Ahead for Bulls

Summary:

* $BTC Bitcoin (BTC) dipped below $60,000 briefly, causing liquidations of bullish bets despite October being historically strong for Bitcoin.

* Social sentiment is bearish on Bitcoin's price recovery.

* Rising oil prices due to Middle East tensions are impacting Bitcoin's price.

* Polymarket bettors show mixed feelings on Bitcoin's price direction in October, with a lean towards a range-bound movement.

Key Points:

* Bitcoin is down over 6% since the start of October, a month that has historically been bullish for Bitcoin.

* CoinGlass data shows that most gains appear in the latter part of October, while the first week is generally bearish.

* Geopolitical tension in the Middle East has shifted investor interest to oil and gold.

* The U.S. presidential election is looking close on Polymarket.

Additional Information:

* The CoinDesk 20 (CD20) index is down 1%.

* Memecoin dogecoin (DOGE) was up 2% on no immediate catalyst.

* Bullish bettors on Polymarket are giving a 63% chance that Israel will strike Iranian oil facilities in October.

* Donald Trump-themed TREMP, a Solana meme coin, is up 14%.

I hope this is helpful!

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