Bitcoin Faces Its Worst October in 10 Years — But There’s Still Hope and Time to Recover

Bitcoin, often dubbed “Uptober” for its strong October rallies, is facing its worst performance in 10 years, falling about 5% this month. Historically, October delivers an average gain of nearly 20%, making this decline a rare deviation.

The downturn comes amid macroeconomic headwinds such as the U.S.–China tariff standoff, falling liquidity, and widespread liquidations in leveraged trades. Over $1.2 billion worth of positions were wiped out in the past week. Major altcoins like Ethereum (ETH), Solana (SOL), and BNB are down 4–7%, while Dogecoin (DOGE) and Cardano (ADA) have plunged as much as 20%.

Despite the grim picture, history offers hope. Bitcoin has closed October in the red only twice in the past 12 years (2014 and 2018). Notably, in 2020, after a similar mid-month drop, Bitcoin surged 27% before the month’s end — a move that set the stage for its 2021 all-time highs.

Analysts say Uptober isn’t over yet. If buying momentum returns in the final weeks, Bitcoin could once again retrace its historical rebound pattern, keeping the bull market dream alive for crypto investors.