**Bitcoin Dips Below $60K, Altcoins Await Regulatory Clarity**

Bitcoin has slipped below the $60,000 mark for the first time since mid-September, currently trading at $59,152, down 2.34% in the past 24 hours. Crypto trader Justin Bennett speculates a further drop to $57K might be on the horizon.

Despite October's strong historical performance for Bitcoin, onchain analytics from Santiment show a decline in "Uptober" mentions.

Altcoins are also feeling the heat. Regulatory uncertainty is causing projects to hold back, as noted by CryptoQuant CEO Ki Young Ju. He suggests a Trump victory in the upcoming U.S. election could boost altcoin sentiment by enabling revenue-generating regulatory changes.

Traders like Michael van de Poppe and Jacob Canfield believe altcoins are still in an accumulation phase, with potential rallies expected in early 2025. Bitcoin's dominance currently stands at 57.79%.