Bitcoin closed October in the red, investors hope for a “resurrection” in November
“Uptober” did not meet expectations
October has traditionally been called “Uptober” by investors – the month of Bitcoin price increases, as in the past 12 years, BTC has increased 10 times and only decreased 2 times.
However, this year everything is quite different. The decision to maintain the FED's interest rates along with the easing of US-China trade tensions has not helped the market improve.
As a result, Bitcoin is set to end October in the red for the first time in 6 years.
“The last day of the month – we need a strong green candle, otherwise this will be the first red October in 7 years,” analyst Jelle wrote on X (Twitter).
Worrisome developments or signals preparing for a new cycle?
Some investors believe this drop is just a “step back to prepare for a big bounce in November,” while others are concerned that Bitcoin's bullish cycle is gradually weakening.
Analyst Timothy Peterson asked: “What does a weak October mean for Bitcoin?” and noted that historical data shows the correlation between October and the performance of the following months is nearly negligible.
According to him, if October is weak, the average profit of Bitcoin over the next 3 months will only reach about 11%, while a strong October usually brings an average increase of 21%.
Expectations are centered on November – Bitcoin's “golden” month.
According to Coinglass data, November is one of the best months for Bitcoin, with an average increase of 46% over the past 12 years.
Also during the period from October to December, BTC prices usually increase by an average of up to 78%, making the last quarter of the year the most active time in the market.
If history repeats itself, Bitcoin may regain its upward momentum in November, but analysts warn that macro volatility and investor sentiment remain unpredictable factors that could strongly influence the next direction of this cryptocurrency.
