Bitcoin (BTC) is on track to end October with losses, breaking a multi-year streak of positive returns during the so-called " Uptober " - a nickname traders use to describe the cryptocurrency's historically strong performance this month.
The world's largest digital asset hovered below key resistance levels through most of the month, sliding from early optimism into a broader market cooldown.
Traders walk into October with high hopes
Ahead of the month, market sentiment had been broadly bullish. Traders pointed to historical seasonality and recent macro tailwinds, such as easing inflation expectations and growing institutional interest, as potential catalysts.
"Good start for Bitcoin in Uptober," wrote CoinDCX CEO Sumit Gupta.
Analyst Michaël van de Poppe also said he expected a new all time high for BTC in October.
However, the rally failed to sustain as profit-taking and muted trading volumes pressured prices. Risk appetite also waned across equities, with crypto following traditional market patterns more closely than in previous cycles.
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Community turns sour on 'Uptober' narrative
By late October, sentiment turned sour as Bitcoin's momentum stalls and altcoins follow suit.
"It was a disaster for all those who believed and bought into the 'Uptober' narrative," wrote The House of Crypto. "Next they'll talk about Moonvember or Double-Digit-December just because the names sound kinda cool."
Crypto influencer Shibo also echoed the frustration, saying , "It's been absolutely brutal for crypto this month. What happened to altcoin season? What happened to Uptober?"
Historically, October has delivered strong double-digit gains for Bitcoin, with 2014 and 2018 standing as rare red exceptions. This year breaks that pattern: BTC is down roughly 6.2% month to date, marking its first losing October in seven years.
At the time of writing, Bitcoin was trading at $110,032, up 1.8% in 24 hours but down 6.2% over the month, with a market capitalization of $2.19 trillion and 24-hour trading volume of $63.3 billion, according to data from CoinGecko .
This story was originally reported by TheStreet on Oct 31, 2025, where it first appeared in the Business News section. Add TheStreet as a Preferred Source by clicking here.
