Red Uptober” in Seven Years

Bitcoin wrapped up October with a nearly 4% monthly loss, marking the first negative “Uptober” since 2018.

The month began on a strong note as BTC surged to a new all-time high of $125,000 on October 5, but momentum quickly reversed after a sharp sell-off in the early hours of October 11, which wiped out hundreds of billions of dollars in liquidations.

Despite the setback, many traders remain upbeat, suggesting the recent consolidation could set the stage for a strong November rebound, as Bitcoin historically tends to perform well in the fourth quarter.

Still, some analysts urge caution, noting that the last time Uptober ended in the red — back in 2018 — Bitcoin plunged over 36% in November that followed.