Bitcoin ends October lower for first time since 2018, breaking seven-year streak

Crypto Investors Face Grim October as Bitcoin Breaks Seven-Year Winning Streak

October proved to be a tough month for Bitcoin, as the leading cryptocurrency closed lower for the first time since 2018, ending a remarkable seven-year streak of gains during what traders once considered "free profit season." According to data from CoinGecko, BTC dropped around 5% over the course of the month as weakening risk appetite, deleveraging, and broader market uncertainty took their toll.

This bearish turn marks a significant shift from Bitcoin's historical performance in October, which has traditionally been one of the most profitable months for the digital asset. The break in this long-standing trend has left many crypto investors and enthusiasts feeling uneasy, as they grapple with the implications of this unexpected development.

The factors behind Bitcoin's October decline are multifaceted, with the ongoing macroeconomic turbulence and reduced risk tolerance among investors playing a key role. The widespread unwinding of leverage in the crypto markets has also contributed to the downward pressure on prices, as traders rushed to close positions and reduce their exposure.

As the cryptocurrency landscape continues to evolve, the end of Bitcoin's seven-year October winning streak serves as a stark reminder that even the most consistent patterns can be disrupted by the unpredictable nature of the digital asset market. Investors will need to closely monitor the situation and adjust their strategies accordingly, as the future outlook for Bitcoin and the broader crypto ecosystem remains uncertain.