October’s Changes in Bitcoin’s Momentum

October was expected to bring bullish trends to Bitcoin, but unexpected rhetoric from U.S. President Donald Trump regarding tariffs on China stole the spotlight and influenced the market considerably.

BTC Market’s Emotional Rollercoaster

Trump’s statements about China in October 2025 led to significant volatility in Bitcoin’s (BTC) market performance. The Net Unrealized Profit/Loss (NUPL) metric showcased how investor sentiment fluctuated during this period. On October 10, with threats of substantial tariffs, Bitcoin’s price fell by 8.4%, dropping close to $104,800 as market fear rose.

As Trump softened his stance later, Bitcoin managed to rise back to the mid-$110,000 range, reflecting a cautious optimism among investors. Further tensions on October 14, however, triggered another price drop, but stability returned around October 24 with news of a potential summit between Trump and Xi Jinping. Bitcoin ultimately surged beyond $115,000, signaling a recovering sentiment as confidence grew with discussions to cancel the tariff plans.

BTC Shorts Liquidated

As Bitcoin’s price rebounded, many short traders faced liquidation, stabilizing around the $114,000 mark. Analyst Ted Pillows indicated that a move above $118,000 could lead to a potential new all-time high soon.

Despite some overall optimism, Ali Martinez cautioned that profit-taking pressure might arise due to technical indicators signaling potential exhaustion in the current upward trend.

For further details, see how CryptoQuant emphasizes that geopolitical events, such as Trump’s tariffs, not only impact prices but also alter overall market sentiment.