Bitcoin Uptober Failed as Oil, Bonds and AI Broke Pattern: What Changed?

Bitcoin lost about 7% in October, a second straight lower October, and now trades under $80,000, after it had risen in 10 of 13 Octobers through 2025 with a median gain near 15%. The drop came as the AI trade cracked: the Magnificent Seven, the largest AI-linked U.S. companies, fell through October. BlackRock senior portfolio manager Jeffrey Rosenberg said markets read that weakness as a warning on U.S. growth, pushing Treasury yields lower even as oil futures rose and breaking an 80% correlation seen this year. Bitcoin also slid about 4% late Thursday, before Friday’s Nasdaq selloff and alongside a historic Binance hack.