Bitcoin’s Uptober Turns Red: Why the Market Missed the Rally Everyone Expected

Bitcoin’s “Uptober” Streak Ends as Mid-Month Sell-Off Turns October Red

November 1, 2025

Bitcoin’s long-running “Uptober” trend has come to an end. The flagship cryptocurrency closed October lower, breaking a six-year pattern of monthly gains after a mid-month sell-off rattled global markets.

Data from CoinDesk shows Bitcoin ended October in the red for the first time since 2018, snapping what traders had come to expect as a seasonal rally.

The turning point arrived on October 10, when former U.S. President Donald Trump threatened sweeping tariffs on China amid rare-earth trade tensions. The remarks triggered a broad risk-off move across global assets, sending shockwaves through the crypto market.

Bitcoin fell from the low $120,000 range to roughly $105,000 in rapid succession as heavy leverage and thin liquidity amplified the drop. Over the following 48 hours, tens of billions in derivatives positions were liquidated and more than $500 billion in crypto market value vanished before a modest rebound stabilized prices.

The correction wasn’t crypto-specific—it was a macro shock meeting an overleveraged market.

By month’s end, most major tokens had followed a similar pattern: early strength, a sharp mid-month plunge, and a partial recovery that failed to reclaim previous highs. Ether, Solana, and XRP all ended October lower.

BNB was the exception, posting a 4.2% monthly gain after holding its mid-month support and grinding higher through the final weeks. A few smaller tokens — including ZEC, XMR, and WBTC — also closed in positive territory, suggesting pockets of resilience despite broader weakness.

The “Uptober” nickname, long embedded in crypto culture, stems from Bitcoin’s consistent record of October gains between 2019 and 2024, as illustrated by CoinGlass’s Monthly Returns heat map. This year’s red print ends that streak and serves as a reminder that historical seasonality is a tendency, not a trading signal.

While performance data can vary slightly across dashboards due to rolling versus calendar-based measures, the takeaway is clear: Bitcoin’s 2025 Uptober turned into a Red October—a break in rhythm that refocuses traders on tape, not tradition.