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Bitcoin Ends 7-Year 'Uptober' Streak as Crypto Market Lags
3 Nov
Summary
- Bitcoin lost 5% in October, its first loss in the historically bullish month since 2018
- Coinbase premium turned negative, indicating weak U.S. retail and institutional crypto demand
- Broader crypto prices fell, with major altcoins like Ether, BNB, XRP, Solana, and Cardano down 4-7%
As of November 3rd, 2025, the cryptocurrency market has been facing a challenging period, with Bitcoin ending its 7-year "Uptober" streak. The world's largest cryptocurrency lost around 5% in October, marking its first loss during the historically bullish month since 2018.
The crypto market's performance has been largely lackluster, with Bitcoin and other major digital assets struggling to recover from early-October losses. This trend has been attributed to a combination of factors, including caution over a cooling economy and ongoing U.S.-China trade tensions, which have kept risk appetite largely on the backfoot.
Adding to the woes, the difference between Bitcoin prices on the leading U.S. exchange Coinbase and the global market average turned negative in late-October. This negative Coinbase premium typically signals weak market demand and more selling pressure on the world's largest cryptocurrency, often seen during extended periods of price weakness.
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The broader crypto market has also been impacted, with most major altcoins nursing steep losses in October. Ethereum (Ether) fell 4.2% to $3,739.94, while Binance Coin (BNB) dropped 4.7% to $1,040.79. Other top cryptocurrencies, including XRP, Solana, and Cardano, also saw declines ranging from 4% to 7%.
