Bitcoin has decreased by 5.51% this month, marking the potential for the first negative October in seven years.
Summary
- Bitcoin’s price is poised to end its seven-year “Uptober” winning streak
- Analysts point to macroeconomic uncertainty and recent ETF outflows as key factors
Bitcoin’s run in October faces a halt. Following seven consecutive years of growth, the leading cryptocurrency is on track to experience its first negative October since 2018. This year’s October has seen increased macroeconomic uncertainties impacting the entire crypto market.
As of October 31, Bitcoin (BTC) is trading at $110,155, reflecting a 5.5% drop from $122,870 on September 30. Furthermore, BTC is now nearly 13% lower than its all-time high of $126,198 achieved on October 6. The predominant factors appear to be profit-taking and macroeconomic uncertainties.
For instance, on October 23, a wallet from the Satoshi era holding $16 million in BTC was activated for the first time in 14 years. This suggests traders are eager to realize gains at BTC’s all-time highs, with experts cautioning about increasing macro risks.
Experts analyze the reasons behind Bitcoin’s decline this October
Vugar Usi Zade, COO at Bitget, highlights significant outflows from Bitcoin and Ethereum (ETH) ETFs, which collectively lost over $550 million in late October. In insights shared with crypto.news, he emphasizes that these outflows largely mirror ongoing macroeconomic uncertainty and Fed policy concerns.
“Chair Powell’s recent statements indicate that the October rate cut might be the final one for the year, supporting the ‘higher for longer’ narrative,” Vugar Usi Zade, Bitget.
The dip in Bitcoin this October may also signify structural maturation. Analysts at TeraHash suggest that while Bitcoin’s momentum remains consistent, it is gradually decelerating. As Bitcoin increasingly attracts investment, the resultant impacts on its price are becoming more moderated, which could also shield BTC from abrupt declines.
“When we compare the momentum from October 2023 to March 2024 to the rally from September to December 2024, the latter appears noticeably weaker. A similar trend is evident when assessing the growth from September to December 2024 against the period from April to July 2025,” analysts at TeraHash.
