The historical average for October sits around 19.8%, next to November’s 42% which is the asset’s strongest month.
Updated Oct 19, 2025, 1:45 p.m. Published Oct 19, 2025, 1:25 p.m.
- Bitcoin is experiencing its worst October since 2015, with a 5% decline so far.
- Macro risks, including the U.S.–China tariff standoff, have overshadowed the usual October rallies.
- Despite the downturn, there is still potential for a late-month recovery, as seen in past years.
Crypto traders have long termed October as “Uptober” in colloquialism that nods to the month’s tendency in delivering the biggest rallies for bitcoin. But this year’s record is shaping to be the worst since 2015, so far.
Bitcoin is down 5% month-to-date, trading near $107,000 in late Asian hours on Sunday, CoinGlass data shows. The historical average for October sits around 19.8%, next to November’s 42% which is the asset’s strongest month.
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Macro risk has drowned out seasonality. The U.S.–China tariff standoff, weak liquidity, and a string of leveraged washouts have all combined to cap upside.
Bitcoin’s slide under $107,000 last week triggered another $1.2 billion in liquidations, wiping out long positions built after September’s rebound. Ethereum, Solana, and BNB are each down 4%–7% on the week, while smaller tokens like DOGE$0.1891 and ADA$0.6576 have dropped over 20%. The CoinDesk 20 Index is down 8% in October.
October’s red streak isn’t unprecedented, but it’s rare. Bitcoin has only closed the month lower two times in twelve years — 2014 and 2018, with the latter ending with a 3% decline.
However, in 2020, bitcoin flipped from an early October loss to a 27% rally by month-end, setting up the following year’s record highs. With two weeks left, the calendar still leaves room for a reversal.
“Uptober” may not be but it’s testing its name this year.
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The recent $500 billion crypto market sell-off revealed the instability of stablecoins, with prices fluctuating even for stablecoins.
What to know:
- NYDIG’s Global Head of Research, Greg Cipolaro, argues that stablecoins like USDC, USDT, and USDe are not truly pegged to the U.S. dollar, but rather float based on market supply and demand.
- The recent $500 billion crypto market sell-off revealed the instability of stablecoins, with prices fluctuating and some assets like USDe dropping as low as $0.65 on Binance.
- Cipolaro suggests that the perceived stability of stablecoins is actually due to arbitrage and market dynamics, and that users often misunderstand the real risks associated with these assets.
