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Bitcoin Retreats After Record-Breaking Week, But 'Uptober' Cheer Remains
10 Oct
Summary
- Bitcoin retreated 0.5% after hitting record highs earlier in the week
- Bitcoin still up 6.2% in October, benefiting from seasonal "Uptober" trend
- Hargreaves Lansdown warns Bitcoin has "no intrinsic value" despite UK regulatory shift
As of October 11th, 2025, Bitcoin has faced a muted performance this week despite hitting a record high of over $126,000 earlier. The world's largest cryptocurrency fell 0.5% to $121,525.6, as some investors took profits after the recent surge.
However, Bitcoin is still sitting on a 6.2% gain so far in October, benefiting from the crypto's historical tendency to perform well during this time of year, a trend known as "Uptober." Last year, Bitcoin added nearly 11% in October, though that was overshadowed by a 37% rally in November.
The recent weakness in Bitcoin has been driven by profit-taking, while doubts over the long-term viability of corporate treasuries holding the crypto have also remained. Investors have also been on edge over an ongoing U.S. government shutdown and uncertainty over the trajectory of interest rates, which have kept Bitcoin's gains in check.
Meanwhile, the UK's biggest retail investment platform, Hargreaves Lansdown, has warned investors that Bitcoin has "no intrinsic value," despite a landmark regulatory shift in the country that will soon allow retail investors to access crypto products through regulated, exchange-traded products. The platform stated that Bitcoin does not display characteristics that warrant its inclusion in growth or income portfolios, though it acknowledged that some customers will still wish to speculate with cryptocurrency.
