Bitcoin struggles after a failed October, US-China deal did not affect cryptocurrency growth
Kyiv • UNN
The price of Bitcoin fell to $107,000 due to fears of a cooling of economic relations between the US and China. In October, Bitcoin lost about 5%, which was the first drop in that month since 2018.
The price of Bitcoin at $107,000 still confirms a general decline, as fears of a cooling in economic relations between the US and China are holding back interest in the world's largest cryptocurrency. This is reported by UNN with reference to Investing.
Details
Bitcoin fell in price on Monday, October 3, to $107,000 (by 2.4%). The cryptocurrency remains in a passive position after Bitcoin suffered losses for the first time since 2018 in October.
In October, Bitcoin lost about 5%, which was the first drop for this virtual currency in the "optimistic" month since 2018.
Reference
The tendency of cryptocurrency markets to grow in October led to the emergence of the term "Uptober". Uptober – from the English words Up and October. As a rule, in October, crypto should grow, so the corresponding month is considered optimistic.
US-China relations are still holding back interest in cryptocurrency
The recent trade agreement between the US and China did not have a significant impact on the growth of cryptocurrency prices.
The difference between the price of Bitcoin on Coinbase Global Inc (an American public company that operates a cryptocurrency exchange platform - ed.) and the global market average became negative at the end of October.
A negative Coinbase premium usually signals weak market demand and increased pressure on the world's largest cryptocurrency. Historically, a negative premium is observed only during periods of prolonged weakness in cryptocurrency prices.
Other cryptocurrencies
Ether fell 4.2% to $3739.94;
BNB - by 4.7% to $1040.79;
XRP, Solana, and Cardano - in the range of 4% to 7%.
Recall
In mid-October, global financial markets were in a fever amid new decisions by the American administration. Bitcoin fell by more than 20 thousand dollars, and other digital assets lost up to 15% of capitalization.
The Trump family earned more than $800 million from the sale of crypto assets in the first half of 2025, significantly exceeding the income from traditional businesses.