Bitcoin approached $77,000 as the market entered October's final trading session, marking a second consecutive monthly decline following a 3.95% drop recorded in October 2025. This downturn occurred alongside a Nasdaq close that was down 2.9%, leaving the index 7.8% below its record high established on October 6.
Gold prices slipped below $3,900 per ounce while Brent crude remained above $117 a barrel, contributing to the broader selloff. On Oct. 30, Reuters reported that Bitcoin touched $77,646 after Binance disclosed a security incident, whereas Ether fell to $2,238.76 and BNB traded at $694, representing a decline of more than 8% over a 24-hour period.
Market Wideness: Tech Stocks and Crypto Slide Together
Amid heavy selling on Wall Street driven by worries over artificial intelligence spending that weighed on technology shares, the Nasdaq closed Friday down 2.9%, leaving it 7.8% below its record high from Oct. 6. Although October's historical track record as 'Uptober' remains strong, Bitcoin faced another negative finish as the month drew to a close.
CoinGlass data indicates that Bitcoin recorded gains in 10 of the 13 Octobers spanning 2013 through 2025, with a median return of 14.6%. However, October 2025 broke this winning sequence with a 3.95% decline, a negative finish that would produce consecutive losing Octobers if the final monthly return remains unsettled after U.S. stock exchanges complete their October trading on Friday while cryptocurrency markets continue through the weekend.
Prior to the current month, market analysts had already raised doubts about whether the calendar could sustain another rally. In its reporting on the October rally case, the report referenced comments from Jake Kennis, a senior research analyst at Nansen, who cautioned that seasonal performance should not be viewed as a reliable indicator of a market bottom. "In the end," Kennis stated, "factors such as liquidity, positioning, macro conditions, and underlying demand serve as more significant drivers than any specific date."
Kennis made this assessment on Oct. 7, following a period where Bitcoin had declined below $84,000 after hitting a high of $87,197 the preceding Friday. There was a selling spread across various assets held by investors for different purposes; Reuters reported that spot gold decreased by 3.63% to $3,874.58 an ounce, while silver fell 6.36% to $49.06.
Oil moved in the opposite direction to the broader market decline, with Brent crude settling at $117.63 a barrel and gaining 2.4% on the day according to the same report. This divergence occurred alongside social media alarm where commentator Bark posted early Saturday that every asset was crashing simultaneously, attributing the selling to manipulation without providing supporting evidence.
Market data presented a fragmented landscape where energy prices rose while precious metals and tech equities declined. Prior to Friday's losses linked to Binance, cryptocurrency demand was already softening; analysis from CryptoQuant regarding weak U.S. appetite revealed that the Coinbase Premium Index stayed below zero all month, hitting -0.146 on Oct. 24.
CryptoQuant's separate apparent-demand model indicated a roughly 76,000 BTC shortfall over the 30-day period ending Oct. 25 by comparing Coinbase prices with offshore venues to derive the figure. Research head Julio Moreno noted that the firm's Bull Score Index declined from 90 to 60 despite six of its ten indicators remaining bullish during this assessment window for market sentiment analysis across multiple data points collected over the month leading up to late October.
A research note published in September by 10x Research indicated a bullish stance once Bitcoin reached $63,000 on Aug. 18. The organization noted that this specific price level was key to validating a recovery, even as some analysts contend the cycle's low point has already passed despite October's underwhelming results.
Historical Context: 'Uptober' Streak Broken by Weak Demand
On October 26, Alex Thorn of Galaxy Research offered an optimistic outlook in his latest report, asserting that the downturn finished back in June. His review highlighted that Bitcoin maintained its position above the 200-week moving average and successfully regained the 50-week average for five straight weeks by October 18 as part of a broader technical recovery pattern observed throughout the latter half of the year before current market conditions shifted.
Contrasting with declining estimates of immediate market demand on October 27, data from SoSoValue showed $176 million flowing into spot Bitcoin ETFs. This inflow comprised $151.5 million directed toward BlackRock's IBIT and $24.5 million for Fidelity's FBTC, whereas U.S. spot Ether ETFs saw $60.2 million leave the market during that same trading period.