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History Says Caution: BTC Price Eyes Drop to $70K After a Red October

October started with massive guarantees of worth will increase, new information, and a bull run’s continuation. And, it delivered within the first week. Bitcoin’s worth, which was already on the rebound in late September, broke previous $120,000 and its earlier all-time high and set a new file of simply over $126,000.

But then it began to go incorrect for the whole cryptocurrency market, and BTC was on the forefront of losses, particularly on two bloody Fridays. More exactly, the most important digital asset plunged from over $121,000 to $101,000 (on some exchanges) on October 10 and, regardless of a transient restoration try, plummeted once more to $104,000 a week later.

The month continued with some extra optimistic developments, corresponding to lower-than-expected inflation numbers for September, rate cuts by the US Federal Reserve, and promising commerce deal information on the Washington-Beijing entrance. These helped BTC get well some floor, however not as a lot as many anticipated, and the asset nonetheless closed October, a traditionally extremely bullish month, barely within the pink.

Is This a Bad Prophecy?

With a 3.69% decline in October 2025, BTC broke a six-year streak of inexperienced months. Data from CoinGlass reveals that the asset charted double-digit positive factors in 5 of these earlier six Octobers, with the one exception being the bear market in 2022.

We want to rewind the clocks to October 2018 to see the earlier such month with a worth decline, which was fairly related to the 2025 version. At the time, BTC closed with a 3.83% drop. However, what adopted was fairly painful and, if historical past repeats, means that BTC might plunge to as little as $70,000 in November.

$70K Next?

In November 2018, the month after the earlier pink October, bitcoin’s worth plunged by 36.57%. The 2018 bear market was notably dangerous because the cryptocurrency culminated with a dump under $3,000 in December, which additionally noticed a 5% decline.

Of course, the panorama now could be totally totally different. BTC is not simply a “pretend web coin;” as an alternative, it’s a multi-trillion-dollar behemoth backed by establishments, distinguished traders, and even governments. Also, we all know that historical past is just not an satisfactory worth prediction instrument, but it surely’s nonetheless price observing given BTC’s actions within the earlier November that adopted a bloody October.

The submit History Says Caution: BTC Price Eyes Drop to $70K After a Red October appeared first on CryptoPotato.

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