Bitcoin drops 7.3% in October, defying Uptober trend as ETF outflows grow

Bitcoin posted a 7.3% decline in October 2026, following a 4% drop in the same month last year, according to CoinGlass. These back-to-back losses have put the cryptocurrency’s long-held “Uptober” reputation under scrutiny, as seasonal optimism gives way to market uncertainty driven by changing investor dynamics and persistent economic concerns. Traditionally, October delivered the strongest median returns for Bitcoin, with an average gain of 15.4% and positive performance in 10 out of 13 years through 2025, according to Kaiko researcher Andrew Yang. However, the pattern broke in the past two Octobers, raising questions about the reliability of historical seasonal trends. The weakening of September’s longstanding bearish reputation further highlights changing market behavior.

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