Bitcoin Closes Second Consecutive Bearish October
Bitcoin Closes Second Consecutive Bearish October
🪙 Background
💡 Bitcoin closed October down more than 7%, marking its first negative month since June.
🔥 October 2025 also closed in the red, making this the second consecutive red October.
Focus
🧐 According to CoinGlass data, Bitcoin posted positive returns in 10 of the 13 Octobers from 2013 to 2025.
💡 Selling after the Binance hack and $643 million in ETF outflows on October 30 added to the end-of-month pressure.
🔥 The low of this drop was recorded at around $76,000.
Implications
💡 Bitcoin was trading near $78,000 on Sunday morning, November 1, and the Fear and Greed Index is in the "Fear" zone.
🧐 Bitfinex analysts see $75,000 as key support and consider reclaiming $80,000 the condition for a sustained recovery.
Conclusion
🧐 November opens with the US midterm elections on November 3, and the market's reaction to them, along with ETF flows, will clarify the short-term path
📊 #Bitcoin #Crypto #Investing #Technical_Analysis
🪙 Background
💡 Bitcoin closed October down more than 7%, marking its first negative month since June.
🔥 October 2025 also closed in the red, making this the second consecutive red October.
Focus
🧐 According to CoinGlass data, Bitcoin posted positive returns in 10 of the 13 Octobers from 2013 to 2025.
💡 Selling after the Binance hack and $643 million in ETF outflows on October 30 added to the end-of-month pressure.
🔥 The low of this drop was recorded at around $76,000.
Implications
💡 Bitcoin was trading near $78,000 on Sunday morning, November 1, and the Fear and Greed Index is in the "Fear" zone.
🧐 Bitfinex analysts see $75,000 as key support and consider reclaiming $80,000 the condition for a sustained recovery.
Conclusion
🧐 November opens with the US midterm elections on November 3, and the market's reaction to them, along with ETF flows, will clarify the short-term path
📊 #Bitcoin #Crypto #Investing #Technical_Analysis
Persian original · View this post on Telegram ↗ · Open in the archive · 💬 Discuss in the Coin_Kurd Telegram group · Educational, not financial advice.