The crypto community has long called October Uptober, a nickname earned by Bitcoin’s consistent history of strong monthly performance. The trend was so reliable that the month became synonymous with price increases.
Bitcoin has always ended October with a profit in the past seven years, a record streak unmatched by any other month in history. However, October 2025 seems to be calling that reputation into question. As the month comes to a close, Bitcoin is about 4% below the monthly open October could finally end in red territory for the first time since 2018.
Bitcoin could end October in the red
Bitcoin’s price opened in October at $114,079, and sentiment was overwhelmingly bullish at the start of the month, with a positive month-end of 5% in September. This bullish sentiment saw the leading cryptocurrency breaking above $126,000 for the first time before finally hitting a new all-time high of $126,080 on October 6. This move strengthened hopes that Uptober would once again live up to its name.
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However, the bullish momentum quickly cooled, with Bitcoin falling below $120,000 very quickly. Halfway through the month Bitcoin witnessed a flash crash causing the price to drop to $101,000 in a swift move. As it stands now, Bitcoin consolidates almost $110,000 at the end of October, and can only record a monthly close above this level.
The last time Bitcoin closed October in the red was in 2018, when it closed at $6,303, which is down about 4% from its October opening of $6,958. That year was during the height of a long bear cycle, as the crypto market struggled to recover from the massive rally of 2017. Bitcoin’s price had been declining for months at a time, and October’s decline was followed by an even more brutal 36.4% crash in November, the steepest monthly loss in cryptocurrency history.
Could November be different this time?
The question now is whether Bitcoin could repeat this downward trend in November 2025. If history were to repeat itself, as it always does in the crypto market, a negative close in October could precede another correction in November. However, the answer may not be so simple.
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Unlike 2018, Bitcoin’s current market structure is supported by several bullish fundamentals. Institutional interest via Spot Bitcoin ETFsexchange outflows and on-chain data show that long-term holders don’t sell aggressively. Even as the price consolidates around $110,000, volatility is lower than during previous market tops, indicating a phase of cooling before a new outbreak.
Even if the month closes in the red, it remains overall Bitcoin’s bullish trajectory is intact. Bitcoin continues to maintain its dominance and attract capital inflows. The only sure way Bitcoin can end November 2025 in the red is if Spot Bitcoin ETFs perform very poorly for the entire month.
At the time of writing, Bitcoin is trading at $109,700.
Featured image from Pixabay, chart from Tradingview.com