Bitcoin (BTC) volatility escalated in early October as capital flowed into the U.S. stock market. BTC briefly reached $28,500 but then fell below $28,000 after investors switched to profit taking.
Bitfinex predicts that most traders believe October could be one of the most volatile months in 2023.
The trigger for improvement in the cryptosphere will be the recovery of the S&P 500 stock index, which was at a multi-year low in September. Now this indicator is gaining, which indicates an improvement in investor sentiment and a stronger appetite for risk.