Bitcoin is poised to post its first monthly loss in October since 2018, falling nearly 5% this month amid rising policy uncertainty and a broad risk-off mood. The digital-asset market has faced record liquidations following surprise tariff announcements and volatile macro-policies. Even though Bitcoin remains up more than 16% this year, investors caution that the crypto-asset class remains narrow and vulnerable to abrupt swings. The unwind coincides with caution around central-bank policy and weakening speculative flows into digital assets.