Bitcoin News Today: Seven-Year Uptober Streak Ends as Macro and Geopolitical Forces Take Control

Bitcoin's seven-year "Uptober" streak has collapsed, marking a pivotal shift in the cryptocurrency market as bearish momentum intensifies. The digital asset fell roughly 10% in October 2025, closing below $110,000 after hitting a record high of $126,300 earlier in the month, Coinpedia reports. This downturn, driven by profit-taking, global economic uncertainty, and Federal Reserve signals, ended a run of consistent gains in October since 2019, according to CoinDesk. Despite the decline, Bitcoin remains up over 16% year-to-date, with analysts framing the drop as a corrective phase rather than a long-term reversal, Coinpedia also notes.

The market's fragility was exacerbated by a sharp selloff on October 10–11, triggered by President Donald Trump's threats of steep new tariffs on China amid rare-earth tensions. This prompted a broad risk-off move, with Bitcoin plummeting from the low $120,000s to around $105,000 in fast-moving trade. Derivatives platforms liquidated tens of billions in positions, and over $500 billion in crypto market value vanished before a tentative rebound set a floor, CoinDesk reported. The episode underscored the vulnerability of leveraged positions and thin liquidity, particularly in altcoins like Solana and XRP, which saw sharper declines.

Meanwhile, miner activity has stabilized, offering a potential catalyst for a rebound. Bitcoin's price consolidation near $115,000 coincides with improved miner profitability and hashprice metrics, reducing forced selling pressures that plagued the post-halving period, crypto.news reports. Analysts note that sustained strength above $118,000–$120,000 could trigger a breakout toward $125,000–$130,000, fueled by stronger on-chain activity and Layer-2 adoption, the article adds. However, a drop below $110,000 risks renewed miner capitulation and macro-driven sell-offs, as global liquidity normalization and ETF flows remain key watchpoints.

The October rout has reset seasonal expectations for the crypto market. The "Uptober" pattern—historically reliable since 2019—now appears less deterministic, with traders acknowledging that market conditions, not seasonality, dictate outcomes, CoinDesk observed. Binance's native token, BNB, bucked the trend by rising 4.2% for the month, highlighting divergent performances among major cryptocurrencies.

While the near-term outlook remains cautious, long-term optimism persists. Bitcoin's year-to-date gains and improving miner economics suggest resilience, but investors must navigate a landscape where macroeconomic shifts and geopolitical risks can swiftly amplify volatility, Coinpedia concludes.