At the time of writing Bitcoin (BTC) price dropped as low as $65,260 and losses in altcoins exceeded 5 percent. October is a period contrary to expectations for cryptocurrency investors. Sellers reversing the Uptober story could cause double-digit losses in some altcoins in the coming hours.
Cryptocurrencies Are Falling
Some altcoins fell to their lowest level in the last 7 days at the time of writing. Bitcoin (BTC) 
$66,484 It dropped to $65,260 and is now selling for $65,510. The main reason for the declines is US sales. Stock markets lost around 2 percent today, and the decline has spread here as well due to the positive correlation with crypto.
Hours after many analysts said that BTC could return again with a close above $ 67,000, the loss of $ 66,000 triggered panic sales in altocins. Moreover, after such falling evenings, we did not have a good start after the daily candle closing.
Another reason for the decline was the sales that started at $69,500 and increased over time. It will not be easy to break this habit of investors who have been making profits with this strategy for more than 2 quarters.
Approaching US elections It will be on November 5th. Although Trump is ahead in prediction platforms such as Polymarket, the ratio is 48% to 46% in reliable polls such as ABC News and Reuters. The image below shows polling data to date and Trump is gaining strength.
trump If it takes the lead in the polls or equalizes the rate in the coming days, positive divergence in crypto and independent movements from stocks may be seen.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
