itcoin was on track Friday to post its first October loss in seven years, breaking a streak that had given the month a “lucky” reputation among cryptocurrency traders.
The world’s largest digital currency is set to fall nearly 5% for the month, trading around $66,800 Friday afternoon, as investors pulled back from risk assets amid renewed global market uncertainty and tighter liquidity conditions.
October had long been viewed as a bullish month for Bitcoin, historically marking strong gains following late-summer weakness. Since 2018, the token had notched positive returns every October — a pattern so consistent that traders dubbed it “Uptober.”
But this year’s decline marks a sharp break from that trend. Analysts say the slide reflects fading optimism about near-term rate cuts by the Federal Reserve and concerns over sluggish crypto trading volumes.
“Bitcoin’s losing streak this month shows how sentiment has cooled,” said David Duong, head of institutional research at Coinbase. “Macro conditions, especially uncertainty around monetary policy, are weighing heavily on all risk assets — crypto included.”
The broader crypto market mirrored Bitcoin’s decline. Ethereum slipped about 4% in October, while smaller tokens such as Solana and Avalanche saw steeper pullbacks. Trading activity across major exchanges has also slowed, suggesting that both retail and institutional investors are taking a wait-and-see approach heading into the final stretch of the year.
Despite the setback, Bitcoin remains up nearly 40% year to date, buoyed earlier in 2025 by inflows into spot Bitcoin exchange-traded funds and expectations of easing monetary policy.
Still, traders say the recent slump is a reminder that Bitcoin’s seasonal trends offer no guarantees.
“October’s usually been a good omen for Bitcoin, but not this time,” said crypto analyst Noelle Acheson. “What we’re seeing now is more about macro pressure than market folklore — and that can flip sentiment quickly.”
Bitcoin’s next major test may come later in November, when inflation and employment data could reset expectations for the Fed’s next move — and, by extension, risk appetite across financial markets.
By DNU staff