Bitcoin misses its usual October rally

Bitcoin wrapped up October at $77,220, missing the seasonal strength traders often expect. The same month last year also ended in the red, raising questions about whether the pattern still holds.

Selling hit tech stocks amid concerns over AI spending, dragging Nasdaq down 2.9 % and leaving it 7.8 % below its early-October peak. Gold and silver declined sharply, while Brent crude gained 2.4 %.

Demand for crypto had already softened before the Binance incident. The Coinbase Premium stayed negative throughout the month, and CryptoQuant flagged a roughly 76,000 BTC shortfall in the 30 days to October 25. Still, firms like 10x Research and Galaxy see the pullback as temporary, citing ETF inflows and the coin’s hold on key moving averages.

Based on information from cryptonews.net