First Mover Americas: Bitcoin Bounces From $60K

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk 20 Index: 1,8691.17 +1.14% Bitcoin : $61,425.69 +0.92% Ether : $2,381.70 +0.9% S&P 500: 5,699.94 -0.17% Gold: $2,659.14 +0.13% Nikkei 225: 38,635.62 +0.22%Bitcoin's slow start to its historically most bullish month continued late Thursday with a brief dip below $60,000 only to

The cryptocurrency traded at around $61,300 during the European morning, an increase of just under 1% in the last 24 hours. The broader digital asset market has risen by about 1.15%, as measured by the CoinDesk 20 Index. BTC is down around 6% since the start of October and bitcoin ETFs have registered net outflows on all three days of the month so far. This is despite its reputation as being BTC's most bullish month, with average gains of 22% since 2013.

The second and third days of October have ended in green just six times since 2013 before recovering in the second week, and large movements are generally in the third week, CoinGlass data show. Price jumps of as high as 16% generally appear after Oct. 15. However, this year bitcoin bulls must also consider the macroeconomic factors weighing on risk assets. Escalating tensions in the Middle East have seen investor sentiment shift toward oil and gold.

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