Why Bitcoin’s Rare Red October Might Not Spell Doom

Bitcoin experienced a rare negative October, closing about 5% lower and breaking a six-year streak of positive performance, leading to debate over whether this signals a pause or a correction. Historically, the outcomes following a 'red October' have varied significantly, as seen in 2014 (followed by a rally) versus 2018 (followed by a major slide).

However, market analysts like Nic Puckrin of Coin Bureau see reasons for optimism, viewing the recent weakness as a healthy correction within a larger bull phase. He highlights Bitcoin's resilience, noting it absorbed over 405 BTC in selling pressure from legacy holders while remaining above $100,000, a level it has not breached since May 2025. This resilience is notable given ongoing macroeconomic uncertainties, such as the unresolved US government shutdown affecting the Federal Reserve's rate decisions.

Puckrin concludes that the current selling is merely short-term noise. He anticipates a volatile month ahead, but believes that as quantitative tightening ends and liquidity increases, the strong fundamentals supporting Bitcoin—particularly its role as a hedge against persistent global currency devaluation—will reassert themselves.

(Source：BeInCrypto)