Bitcoin’s price dipped further on Monday, sliding 2% over a 24-hour period to trade at a little over $82,423.
The coin over the past week has dropped by 3%, and so far this month, it’s trading down.
October is usually a strong month for the OG cryptocurrency. Data from Coinglass shows that it has finished eight of the last 10 Octobers in the green.
Last year was one of the exceptions: while bitcoin’s price notched an all-time high of $126,080, it then started to enter a bear market after October 10 — when the biggest crypto liquidation event in history battered the asset’s price.
Markets across the board got hit hard following tariff threats from U.S. President Donald Trump. Crypto long positions got wiped out and over $19 billion in digital asset bets were liquidated.
Bitcoin then spent most of 2026 in a bear market.
The good news? That the coin just had its best quarter in years and a good September — historically a rough month for the cryptocurrency. Analysts now are saying that while it’s got off to a bad start so far in “Uptober”, signs of a bottom this month may already be in.
Writing for data firm CryptoQuant, Japanese asset management platform XWIN said it could be up from here.
“Now, signs of a potential bottom are emerging,” XWIN said in a note. “On October 12, markets priced roughly an 18% chance of an October Fed hike, while Brent crude had eased from nearly $110 to around $103.”
It added: “‘Uptober’ need not mean uninterrupted gains: a correction can build the foundation for the next advance.”
High oil prices have — at least in the short-term — hurt bitcoin’s price as investors then expect the Federal Reserve to hike interest rates in order to control inflation.
But while the U.S. central bank last month raised interest rates, bitcoin’s price was unfazed and rose following the news.
Other analysts have now said the biggest cryptocurrency is out of a bear market due to it crossing its 365-day moving average — a signal that has marked the start of its bull markets in past cycles.
