October started with hopes for “Uptober”—a positive price trajectory in October—in the Bitcoin community, since, historically, Bitcoin has performed well this month. But things took a turn when geopolitical tensions in the Middle East escalated, raising concerns about how that could affect Bitcoin’s price this month.

In this episode, André Dragosch, European Head of Research at Bitwise, talks about how Bitcoin typically responds to geopolitical shocks, whether this could present a buying opportunity, and how major events like the U.S. elections might shape Bitcoin’s future.

Show highlights:

How Bitcoin’s reacted to the geopolitical escalations
Why André believes this is a buying opportunity
How there was a macro capitulation after the beginning of the unwind of the Japan carry trade in August
Whether Bitcoin can truly act as a safe haven asset
How the clientele of ETFs have changed the market structure for Bitcoin
Whether ‘Uptober’ is canceled
How Andre expects Bitcoin will perform depending on the winner of the U.S. elections

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Guest

André Dragosch, European Head of Research at Bitwise
Bitcoin as a Safe-Haven: Hedging Against Geopolitical Risks

Links

Previous coverage of Unchained on the recent market movements::
Investors Ditch Bitcoin, Scoop Up Gold, as Iran-Israel Tensions Escalate
$500 Million Liquidated From Crypto Markets Cools ‘Uptober’ Enthusiasm
Unchained:
Bitwise CIO Matt Hougan’s thread on how bitcoin & gold have performed
BlackRock’s bitcoin report

Timestamps:

00:00 Intro
01:14 How Bitcoin's price reacts to geopolitical tensions
03:17 Whether this could be a buying opportunity
08:54 Macro capitulation after the start of the Japan carry trade unwind
11:02Can Bitcoin act as a safe haven asset?
16:12 How ETFs have changed Bitcoin's market structure
20:28 Is ‘Uptober’ canceled?
24:17 Bitcoin’s future based on U.S. election outcomes
28:45 News Recap

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Bitcoin's Price Dropped After Iran's Attack on Israel. Is ‘Uptober’ Canceled? - Ep. 713 40:07 Share

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Shownotes Transcript

Bitcoin's Price Dropped After Iran's Attack on Israel. Is ‘Uptober’ Canceled? - Ep. 713