Bitcoin Update: Bitcoin's Six-Year Winning Run in October Comes to a Halt as Broader Economic Forces Dominate

Bitcoin’s long-standing “Uptober” trend—six consecutive years of October gains—came to an end in 2025, as the cryptocurrency posted its first October loss since 2018. The asset dropped 3.6% during the month, changing hands at $110,075.91 on November 1, based on

. The downturn was triggered by a mix of global economic pressures, including President Donald Trump’s imposition of 100% tariffs on goods from China, the Federal Reserve’s slower-than-expected rate cut schedule, and a massive $19 billion in leveraged position liquidations that intensified market swings, according to . This decline wiped out close to $500 billion in total crypto market capitalization, with Bitcoin tumbling from a monthly peak of $126,300 to a low of $109,340, The Economic Times reported.

October’s selloff highlighted Bitcoin’s increasing ties to mainstream financial markets. Experts observed that institutional capital, ETF flows, and broader economic sentiment now have a greater influence on price action than individual traders, according to

. “Even leading assets like and can see their prices drop by 10% within minutes,” stated Adam McCarthy, a senior analyst at Kaiko, as reported by The Economic Times. The rapid decline was worsened by low liquidity and heavily leveraged trades, which led to a cascade of forced liquidations on October 10–11 after Trump’s tariff threats rattled risk assets, CoinDesk noted.

Although October broke with historical trends, November has typically brought relief to crypto investors. Historically, Bitcoin has averaged a 42% gain in November, The Economic Times points out. Still, optimism is checked by persistent risks. The Federal Reserve’s reluctance to lower rates and a robust U.S. dollar have weighed on Bitcoin, which does not offer yield, according to Crypto.news. At the same time, Trump’s trade stance remains unpredictable, with analysts warning that further escalation could spark renewed volatility.

Technical signals indicate a pivotal moment. Bitcoin is currently trading near $108,000, with $107,000 seen as a crucial support zone. Falling below this level could lead to further declines, marking the weakest start to a fourth quarter since 2022, Crypto.news cautioned. Conversely, a move back above $126,000—the high from early October—could restore bullish sentiment. Coinbase’s third-quarter profit jump to $1.05 billion, fueled by increased trading activity, suggests some underlying strength in the industry, according to

.

The outlook depends on greater economic certainty and geopolitical calm. Should Trump’s trade disputes subside and the Fed indicate rate cuts, November could see a strong rebound. However, with the memory of $19 billion in liquidations still fresh, traders remain wary. As one derivatives trader explained, “This was a macro event colliding with crowded trades—not something unique to crypto,” the trader told CoinDesk. The next few weeks will reveal whether Bitcoin’s usual November rally can return, or if 2025’s “Red October” will leave a lasting impact.