Bitcoin price has recovered to above $109,000 after a volatile October marked by a failed “Uptober” rally, Fed-driven risk aversion, and U.S.–China trade tensions.
Bitcoin price has rebounded slightly to $109,600 after yesterday’s dip to $106,000, ending what has been a tumultuous October for bitcoin.
Traders are now cautiously optimistic as the market transitions from the failed “Uptober” rally to the historically stronger month of November.
Yesterday, Bitcoin tumbled over 3% amid renewed risk-off sentiment sparked by Federal Reserve Chair Jerome Powell’s hawkish comments on future rate cuts and renewed U.S.–China trade tensions.
The dip extended a week-long decline that began after the Fed delivered a modest 25 basis point cut but signaled uncertainty for December’s meeting.
Bitcoin entered October with high hopes for “Uptober,” a seasonal trend historically associated with double-digit gains.
Early in the month, Bitcoin briefly touched $125,000, only to give back much of those gains amid macroeconomic jitters and slow institutional activity. On October 10, the bitcoin price dropped sharply to the $108,000 range from $117,000 as the U.S.-China trade tensions and new tariffs triggered a market-wide sell-off.
At its lowest, Bitcoin fell about 10% on that day and other cryptocurrencies dropped 20–40%, though it later rebounded to around $113,000 amid high volatility.
Strategy (MSTR), one of the largest Bitcoin accumulators, bought just 778 BTC in October — down 78% from September — bringing its total holdings to over 640,000 BTC.
JUST IN: #Bitcoin is about to enter into it's highest performing month on average 👀
Bullish on November 🚀 pic.twitter.com/GTDUSGIhQd
Altcoins mirrored Bitcoin’s struggle this month. At times, Ethereum fell below $3,790, while Solana dipped under $187. Despite the weakness, Bitcoin dominance remains steady at roughly 57%, suggesting the market is consolidating rather than capitulating.
Looking ahead, traders are turning their attention to next month, November — sometimes nicknamed “Moonvember” — which historically follows strong October performances.
Despite macroeconomic pressures, some analysts see potential for Bitcoin to retest all-time highs going into 2026, assuming stable Fed guidance, renewed inflows, and no new shocks.
That being said, bitcoin has traded in an unusually tight range between $106,000 and $123,000 for over four months, pushing volatility to record lows, a pattern that historically precedes major trending moves.
If past fractals repeat, Bitcoin could see significant gains toward $170,000–$180,000 by and through 2026, though sideways trading may persist until macro catalysts like Fed rate cuts or capital rotation spur renewed volatility.
Established in 2012, Bitcoin Magazine is the oldest and most established source of trustworthy news, information and thought leadership on Bitcoin.
© BTC Media, LLC 2025