Bitcoin has fallen toward $77,000 heading into October’s final session, as a selloff in U.S. technology stocks and gold has deepened losses during a month traders usually associate with gains.
Summary
- Bitcoin is approaching a second consecutive October loss after falling 3.95% in October 2025.
- The Nasdaq closed Friday down 2.9%, sitting 7.8% below its October 6 record closing high.
- Gold fell below $3,900 an ounce while Brent crude settled above $117 a barrel.
- Weak U.S. spot demand has weighed on Bitcoin, although some researchers maintain their bullish views.
According to Reuters, Bitcoin touched $77,646 on Oct. 30 after Binance disclosed a security incident, while Ether slipped to $2,238.76 and BNB traded at $694, down more than 8% over 24 hours.
The declines arrived alongside heavy selling on Wall Street, where concerns about artificial intelligence spending hit technology shares. By Friday’s close, the Nasdaq had lost 2.9% and stood 7.8% below its Oct. 6 record closing high.
Bitcoin’s red October follows last year’s loss
October’s reputation as “Uptober” rests on a strong historical record, but Bitcoin entered the final day of this month facing another negative finish.
CoinGlass data shows Bitcoin gained in 10 of the 13 Octobers between 2013 and 2025, with a median return of 14.6%. October 2025 broke the winning sequence with a 3.95% decline.
A negative finish this year would therefore produce consecutive losing Octobers. Cryptocurrency trading continues through the weekend, leaving the final monthly return unsettled after U.S. stock exchanges completed their October trading on Friday.
Earlier this month, analysts had already questioned whether the calendar could support another rally. In its coverage of the October rally case, crypto.news cited Nansen senior research analyst Jake Kennis, who warned against treating seasonal performance as a dependable bottom signal.
“Ultimately liquidity, positioning, macro conditions, and underlying demand are more important drivers than any specific date,” Kennis said.
His assessment came on Oct. 7, when Bitcoin had slipped below $84,000 after reaching $87,197 the previous Friday.
Stocks and gold fall while oil climbs above $117
Selling spread across assets that investors often hold for different purposes. Reuters reported that spot gold fell 3.63% to $3,874.58 an ounce, while silver dropped 6.36% to $49.06.
Oil moved in the opposite direction. Brent crude settled at $117.63 a barrel, gaining 2.4% on the day, according to the same report.
The simultaneous declines drew alarm on social media. In a post shared early Saturday, commentator Bark wrote, “Every asset on earth is crashing at the exact same time,” attributing the selling to manipulation without providing supporting evidence.
The market figures showed a less uniform picture, with crude advancing as precious metals and technology stocks fell.
Within crypto, demand had been weakening before Friday’s Binance-related losses. CryptoQuant’s findings, detailed in coverage of weak U.S. demand, showed its Coinbase Premium Index remained negative throughout October and reached minus 0.146 on Oct. 24.
The indicator compares Coinbase prices with offshore venues. CryptoQuant’s separate apparent-demand model showed a roughly 76,000 BTC shortfall over 30 days by Oct. 25.
Research head Julio Moreno said the firm’s Bull Score Index had fallen from 90 to 60, although six of its ten indicators remained bullish.
Bitcoin bottom calls survive the latest decline
Some researchers continue to argue that Bitcoin’s cycle low is already behind it, despite the disappointing October performance.
In a September research note, 10x Research said it turned bullish when Bitcoin traded at $63,000 on Aug. 18. The firm said its earlier August work had identified that level as central to confirming a recovery.
Galaxy research head Alex Thorn made a separate bullish case in an Oct. 26 assessment, arguing that the bear market ended in June. His analysis cited Bitcoin holding its 200-week moving average and reclaiming the 50-week average for five consecutive weeks through Oct. 18.
U.S. fund purchases offered another counterpoint to weakening spot-demand estimates. SoSoValue figures recorded $176 million entering spot Bitcoin ETFs on Oct. 27, including $151.5 million for BlackRock’s IBIT and $24.5 million for Fidelity’s FBTC.
During the same session, U.S. spot Ether ETFs recorded $60.2 million in withdrawals, according to figures included in coverage of October fund flows.
