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The value of Bitcoin has slightly recovered to $109,600 after yesterday’s decline to $106,000, concluding what has been a turbulent October for bitcoin.
Traders are now tentatively hopeful as the market shifts from the unsuccessful “Uptober” surge to the traditionally stronger month of November.
Yesterday, Bitcoin plummeted over 3% due to renewed risk-averse sentiment ignited by Federal Reserve Chair Jerome Powell’s hawkish remarks regarding future interest rate cuts and escalating U.S.–China trade conflicts.
The decline extended a week-long downturn initiated after the Fed announced a modest 25 basis point reduction but indicated uncertainty for December’s session.
Bitcoin had a lackluster October
Bitcoin entered October with great expectations for “Uptober,” a seasonal trend historically linked with double-digit increases.
Earlier in the month, Bitcoin briefly reached $125,000, only to relinquish much of those gains amidst macroeconomic anxiety and sluggish institutional engagement. On October 10, the bitcoin value suddenly fell to the $108,000 bracket from $117,000 as the U.S.-China trade skirmishes and new tariffs incited a widespread market sell-off.
At its lowest point, Bitcoin dropped approximately 10% that day and other cryptocurrencies plummeted by 20–40%, although it later rebounded to nearly $113,000 amidst high volatility.
Strategy (MSTR), one of the largest Bitcoin accumulators, purchased only 778 BTC in October — a decrease of 78% from September — raising its total holdings to over 640,000 BTC.
Altcoins reflected Bitcoin’s difficulties this month. At various points, Ethereum fell beneath $3,790, while Solana dipped below $187. In spite of the weakness, Bitcoin’s dominance remains stable at around 57%, indicating the market is consolidating rather than capitulating.
Bitcoin price recovery in ‘Moonvember?’
Looking forward, traders are focusing on next month, November — sometimes referred to as “Moonvember” — which historically follows robust October performances.
Despite macroeconomic pressures, some analysts perceive potential for Bitcoin to challenge all-time peaks moving into 2026, provided there is consistent Fed guidance, renewed capital inflows, and no unforeseen shocks.
However, Bitcoin has traded within an unusually tight range between $106,000 and $123,000 for over four months, driving volatility to record lows, a pattern that historically precedes significant trending movements.
If past fractals repeat, Bitcoin could witness substantial gains towards $170,000–$180,000 by 2026, though sideways trading may continue until macro catalysts like Fed rate reductions or capital rotation trigger renewed volatility.
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