Morning Minute: Bitcoin Gets Spooked as ‘Uptober’ Lets Down

Bitcoin and other cryptocurrencies experienced a significant drop in value on the first trading day of October, disappointing investors who had hoped for a positive 'Uptober' effect. The crypto market is currently in the red, with altcoins also facing substantial losses. On-chain data suggests that there is capitulation among investors, indicating a lack of confidence in the market's short-term prospects.