October, notoriously known as “Uptober” among crypto enthusiasts, has kicked off on a sour note.

Bitcoin and Ethereum plummeted over 4% each, with $BTC hitting $61,750 and $ETH tumbling to $2,495.

The catalyst behind this dip? Rising tensions between Iran and Israel, with the White House anticipating a potential attack. History shows that escalating geopolitical tensions often trigger market selloffs.

A notable whale’s recent actions also raised eyebrows:

• Sold 29,480 $ETH ($76.8M) over three days at $2,605, netting $2.34M
• Previously bought 29,414 $ETH ($74.46M) between August 27-30 at $2,532 and staked it.

ETF flows offered mixed signals:

• Total Ethereum spot ETF outflow: $822,300 (September 30)
• Grayscale ETF ETHE outflow: $11.8128 million
• BlackRock ETF ETHA inflow: $10.9905 million

Market Insights:

• Geopolitical tensions weigh on crypto markets
• Whale activity influences market sentiment
• ETF flows reflect investor caution

As Uptober unfolds, keep a close eye on:

• Global events
• Whale movements
• ETF flows

Will Bitcoin and Ethereum bounce back from this dip, or will geopolitical tensions continue to weigh on the market?

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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