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

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

• Polkadot
• Mantle’s FBTC

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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