‘Uptober’ Flopped as BTC Tanked 7%: Will November Be Any Different?

Bitcoin fell 7.32% in October, ending a three-month streak of gains from July through September despite starting the month below $83,500 and rising above $87,000. The cryptocurrency dropped below $80,000 after September CPI and PPI data showed inflation higher than expected, then hit a six-week low of $76,100 on October 30. That move was driven by a $6.3 billion hack at Binance and ETF outflows. Bitcoin rebounded above $77,000 by month’s end, after six consecutive prior Octobers had closed higher, five with double-digit gains.