Bitcoin (BTC) experienced a notable 10% price decline recently due to market sell-offs and geopolitical tensions, leading to uncertainty about its future trajectory, as per Bitfinex Alpha. This decline was driven by spot market sell-offs and leveraged position liquidations, causing a significant drop in value after hitting a high of $66,587.
The loss of the $65,200 support level triggered further liquidations, marking the first four consecutive days of losses for Bitcoin since early August. The sell-off intensified amidst rising geopolitical tensions and resulted in $450 million worth of liquidated positions on October 1. Despite a brief recovery to $64,027 on October 7, the short-term direction of the market remains uncertain. Notable movements in altcoin prices and global economic developments, such as
