"Anticipating gains driven by seasonal trends, ongoing exchange-traded fund (ETF) inflows, and easing monetary policy, believed Bitcoin could continue hitting new highs. Instead, the cryptocurrency pulled back, dropping more than 5% over the month to hover around $108,000 today. This marked the first negative October close since 2018 (assuming it doesn't rocket higher within the next day), breaking a streak of strong performances that had median gains of 11.2% in prior years."
"The disappointment has shifted focus to November - lately called "Moonvember," though it's typically reserved for altcoins and meme coins in hopes they will "go to the moon." Still, over the past 14 years, November has been Bitcoin's next strongest month after October, with median gains of 10.3% (February is best, though, at 12.2%). But with macroeconomic pressures lingering, can November deliver where October failed?"
Bitcoin entered October with high expectations due to seasonal 'Uptober' trends, ETF inflows, and hopes for easier monetary policy. Instead, Bitcoin fell more than 5% over the month to about $108,000, registering the first negative October close since 2018 and breaking a streak of median October gains of 11.2%. Attention shifted to November—nicknamed 'Moonvember'—which historically ranks as Bitcoin's second-strongest month with median gains of 10.3%. October's pullback followed a mid-month correction after a brief surge above $125,000, rising volatility in futures, and dipping below key supports near $110,000. Macro risks including cautious Fed messaging and renewed U.S.-China trade tensions prompted risk-off flows.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]