Bitcoin risks another red October as retail selling outpaces whale activity — What next?

Bitcoin is heading towards a second consecutive red October as selling pressure undermines the seasonal “Uptober” narrative. As of 19th October, Bitcoin [BTC] was down 1.35% for the month, while historically October has returned an average of 18.40%. That decline comes after a September of +6.33%. So, it would seem that the momentum gained during the last recovery period has been fading. While broader market uncertainty and profit-taking may have contributed to the decline in prices, the monthly returns alone cannot confirm the exact triggers. Bitcoin’s 20.48% June decline highlighted how quickly selling can overwhelm recovery attempts, while August’s 24.95% rebound underlined the market’s volatility. Two consecutive negative Octobers could weigh on investor confidence, given that Bitcoin is already down over the month.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.