Worst Uptober ever? Bitcoin price risks first 'red' October in 8 years
Bitcoin is on track for its worst October since 2018, potentially marking the first 'red' October in eight years.Summary
Bitcoin's October performance, dubbed "Uptober," is threatening to be the worst in eight years, with the BTC/USD price currently down 2.3% from the start of the month. If the price drops just 4% more by month-end, it will mark the first 'red' October since 2018, a particularly poor showing for a bull market year where October gains typically average 20% or more (e.g., 40% in 2017 and 2021). The weakest October on record since 2013 was in 2014, which saw a 13% decline. Despite the current bearish trend, some optimism remains, as economist Timothy Peterson noted that a significant portion of Bitcoin's yearly performance often occurs after October 3rd. Furthermore, the upcoming Federal Reserve meeting on October 29th could offer a reprieve if the Fed signals an end to quantitative tightening, which would generally favor risk assets like crypto.
(Source：Cointelegraph)