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Why Is Bitcoin Down? Prices Face Rare Red October, Testing “Uptober” Legacy
October is shaping up as one of Bitcoin’s weakest in years, threatening the cryptocurrency’s reputation for strong autumn rallies. After an early surge to new highs, BTCUSD has struggled, retreating to a range between $105,825 and $115,403. If current trends persist, Bitcoin could post its first negative October since 2018. Bitcoin’s historically bullish October, dubbed “Uptober” by traders, has seen its momentum stall. Data from CoinGlass shows BTC is currently 2.77% below its monthly opening price, with only a 4% decline needed to cement its worst performance in more than a decade. By comparison, ... (full story)
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