As everyone knows, this happened against the backdrop of US threats to impose triple-digit tariffs on goods from China and tighten controls on software exports.

On October 10, concerns about the consequences of these statements triggered the liquidation of more than $19 billion in margin positions in the crypto sector.

Analysts noted that this was the largest 24-hour collapse ever seen in the cryptocurrency market, nine times higher than in February and 19 times more than in 2020.

Bitcoin, the world's largest cryptocurrency, later recorded its first monthly drop since 2018 in October, even as stock indexes rose amid enthusiasm for the use of artificial intelligence.

The euphoria around AI weakened somewhat last week, as investors worried about the sustainability of inflated valuations of the technology sector, and a lowered risk sentiment did little to boost Bitcoin.

On Wednesday, Bitcoin briefly dropped below the cherished level of $100,000, at one point reaching its weakest level since mid-June. Bitcoin has also entered a bear market, falling more than 20% from its all-time high of early October at $126,186.0.