**Bitcoin Shows Resilience Amid Market Turbulence**

Bitcoin took a hit, dropping 8.3% between Sept. 30 and Oct. 1, reaching a low of $60,207. Despite a slight recovery to $61,300 on Oct. 2, it's still 16.6% below its March 2024 all-time high. Comparatively, gold and the S&P 500 are near their record levels.

Interestingly, Bitcoin derivatives metrics suggest traders aren't turning bearish. Analysts point to Bitcoin's historical resilience during major events. BlackRock's recent report underscores Bitcoin's unique role as a "flight to safety" asset.

Geopolitical tensions, particularly Iran's missile attack on Israel, and the upcoming US elections add to market uncertainty. Yet, Bitcoin's futures and options markets remain stable, indicating traders are cautiously optimistic.