Bitcoin is down 5.51% this month, which is expected to be the first red October in seven years.
summary
- Bitcoin price on track to break 7-year ‘uptober’ rally
- Experts cite macro uncertainty and recent ETF outflows
Bitcoin’s October streak has broken. After seven consecutive years of gains, the world’s top cryptocurrency is on track to post a negative October result for the first time since 2018. Macroeconomic uncertainty increased in October of this year, weighing on the entire cryptocurrency market.
On October 31st, Bitcoin (BTC) traded at $110,155, down 5.5% from $122,870 on September 30th. Moreover, BTC price is down almost 13% from its all-time high of $126,198 on October 6th. The likely culprits seem to be profit taking and macro uncertainty.
For example, on October 23, a Satoshi-era wallet containing $16 million worth of BTC was activated for the first time in 14 years. This shows traders are poised to profit from BTC’s all-time high as experts warn of increased macro risks.
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Expert explains why Bitcoin fell in October this year
Bitget COO Vugar Usi Zade points to large outflows from the Bitcoin and Ethereum (ETH) ETF, which lost more than $550 million in late October. In comments shared with crypto.news, he noted that the outflows primarily reflect continued uncertainty surrounding macroeconomic factors and Fed policy.
“Chairman Powell’s recent comments suggest that October’s rate cut could be the last of the year, reinforcing the ‘more prolonged rate hike’ narrative,” said Bigget’s Vuga Ushi Zeed.
Bitcoin’s fall in October could also be a sign of structural maturity. According to analysts at TeraHash, Bitcoin’s momentum is stable but gradually slowing down. As Bitcoin steadily attracts more capital, the impact on its price will ease. However, this also works in reverse and should protect BTC from sudden declines.
“If we compare the momentum from October 2023 to March 2024 with the bull market from September to December 2024, we see that the latter was significantly weaker. If we compare the growth rate from September to December 2024 to April to July 2025, the same pattern emerges,” TeraHash analysts said.
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