*Uptober may be over: Bitcoin price data shows investor sentiment at 3-month low
$BTC $ETH $BNB
The symbol for bitcoin, or BTC, recently had a 4.9% correction in the four days following its failure on October 8 to break through the $28,000 barrier. The data from derivatives reveals a generalised anxiety in the market.
Bitcoin is still rising at $27,700 in spite of this, beating more conventional assets like gold and Treasury Inflation-Protected bonds, which have dropped 4.2% and 5%, respectively, since June.
Despite the fact that Exxon Mobil and Visa are now less valuable than Bitcoin in terms of market capitalization, some aficionados might have higher expectations given that Bitcoin reached its last all-time high in November 2021.
Reduced interest in alternative hedge assets like Bitcoin may be justified by the robust U.S. Dollar Index, which shows confidence in the American economy.
The S&P 500 index has increased by 3% since June, but top corporations still have significant cash on hand.
