Bitcoin News Today: Bitcoin's Six-Year October Streak Ends as Macroeconomics Take the Wheel

Bitcoin's "Uptober" streak—a six-year tradition of October gains—collapsed in 2025, marking the first negative performance for the crypto asset since 2018. The digital currency fell 3.6% in October, trading at $110,075.91 as of November 1, according to CoinDesk data. The selloff was fueled by a confluence of macroeconomic factors, including President Donald Trump's 100% tariffs on Chinese imports, the Federal Reserve's delayed rate-cut timeline, and a $19 billion wave of leveraged market liquidations that amplified volatility, according to The Economic Times. The drop erased nearly $500 billion in crypto market value, with Bitcoin's price plummeting from a monthly high of $126,300 to a low of $109,340, The Economic Times reported.

The October rout underscored Bitcoin's growing entanglement with traditional financial markets. Analysts noted that institutional flows, ETF inflows, and macroeconomic sentiment now play a larger role in price movements than retail trading activity, according to a Crypto.news analysis. "Even top coins like Bitcoin and Ether can experience 10% drawdowns in minutes," said Adam McCarthy, senior analyst at Kaiko, The Economic Times reported. The sell-off was exacerbated by thin liquidity and crowded leveraged positions, which triggered cascading liquidations on October 10–11 as Trump's trade threats sent shockwaves through risk assets, CoinDesk noted.

While October's performance shattered historical patterns, November has historically offered a silver lining for crypto markets. The month has averaged 42% gains in Bitcoin's history, The Economic Times notes. However, optimism is tempered by ongoing risks. The Fed's hesitation to cut rates, coupled with a stronger U.S. dollar, has pressured Bitcoin, which lacks yield-generating characteristics, a Crypto.news analysis added. Meanwhile, Trump's trade policies remain a wild card, with analysts warning that further escalations could reignite volatility.

Technical indicators suggest a critical juncture. Bitcoin currently trades near $108,000, with $107,000 identified as a key support level. A break below that threshold could trigger deeper losses, extending Q4's weakest start since 2022, Crypto.news warned. On the flip side, a rebound above $126,000—a level last seen in early October—could reignite bullish momentum. Coinbase's Q3 profit surge to $1.05 billion, driven by surging trading volumes, hints at resilience in the sector, according to a TradingView report.

The path forward hinges on macroeconomic clarity and geopolitical stability. If Trump's trade tensions ease and the Fed signals rate cuts, November could deliver a "revenge" rally. But with $19 billion in liquidations still fresh in traders' minds, caution remains pervasive. As one derivatives trader noted, "This was a macro headline colliding with crowded positioning—not a crypto-specific catalyst," a derivatives trader told CoinDesk. The coming weeks will test whether Bitcoin's historical November magic can reclaim its narrative—or if 2025's "Red October" will cast a longer shadow.