**Crypto Market Update: Bitcoin Dips Amid Middle East Tensions**

Bitcoin (BTC) faced a sell-off on October 1, dropping near the crucial $60,000 support level due to rising Middle East tensions. However, bulls managed to push it back above $62,000 on October 2. Institutional investors are cautious, with U.S. spot Bitcoin ETFs seeing $242.6 million in outflows.

QCP Capital warns that further geopolitical tensions could drive Bitcoin down to $55,000. Historically, Bitcoin hasn't closed negatively in October over the past five years, which might attract buyers at lower levels.

Stay tuned for more updates as the market reacts to these developments.