Bitcoin Updates Today: Bitcoin's October Downturn Reveals Contrasting Trends in Crypto While BNB Surges

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Bitcoin Updates Today: Bitcoin's October Downturn Reveals Contrasting Trends in Crypto While BNB Surges

Bitget-RWA2025/10/31 15:14

By:Bitget-RWA

- Bitcoin fell 5.5% in October, its first monthly decline since 2018, driven by Fed policy uncertainty, ETF outflows, and dormant wallet activity. - BNB Chain surged amid memecoin frenzy, with BNB price rising 6.6%, contrasting Bitcoin's struggles and highlighting crypto market divergence. - Technical analysis identified $105,000–$103,800 support and $126,000–$128,000 resistance, while institutional Bitcoin ETFs attracted $3.5B inflows, holding 12% of total supply. - Fed's 0.25% rate cut and Bitcoin-to-gol

October ended with Bitcoin posting a rare monthly loss, its first negative October in seven years, as reported by a

Crypto.News article

. The cryptocurrency, which had consistently posted gains every October since 2018, dropped 5.5% from September, closing at $110,155 on October 31, down from $122,870 at the previous month’s end, according to Crypto.News. This downturn occurred amid increased macroeconomic uncertainty, including apprehensions about the Federal Reserve’s actions and investors taking profits after a brief surge to a record $126,198 in mid-October. Analysts cited over $550 million in ETF outflows late in the month and a general move toward safer assets as key reasons for the decline, the report stated.

The selloff was intensified by movements from previously inactive wallets. In October, a

Bitcoin

wallet from the Satoshi era, containing $16 million in

BTC

, became active again, possibly indicating profit-taking amid concerns about a potential Fed rate cut, as noted by Crypto.News. TeraHash analysts pointed out that while Bitcoin’s momentum remains, it is slowing as the market matures, with capital inflows helping to temper volatility and protect against sharp drops. At the same time, institutional investors continued to have a significant impact, with spot Bitcoin ETFs drawing $3.5 billion in new investments in October, raising institutional ownership to 12% of the total supply—a record high, according to an

Investing.com report

Bitcoin Updates Today: Bitcoin's October Downturn Reveals Contrasting Trends in Crypto While BNB Surges image 0

While Bitcoin’s October performance drew scrutiny,

BNB

Chain experienced a surge in activity fueled by the

memecoin

craze. Platforms such as Four.

meme

led the way in launching new tokens, with BNB’s price climbing above $1,300 during the month before ending with a 6.6% increase, according to

Cointelegraph

. This stood in contrast to Bitcoin’s challenges, illustrating the varied trends within the crypto sector.

Technical indicators pointed to a possible recovery for Bitcoin. On October 30, BTC/USD was trading at $111,328 following a 25-basis-point rate reduction, with major resistance at $126,000–$128,000 and support at $105,400–$103,800, as highlighted in a

TradingView update

. Surpassing $116,000 could set the stage for a move toward $120,000–$122,000, while falling below $109,000 could expose the $105,000 CME futures gap, warned the Investing.com report.

The anticipated 0.25% rate cut by the Fed in October added further complexity to the market outlook. With inflation cooling and the U.S. Dollar Index dropping below 99, Bitcoin’s appeal as a safeguard against currency depreciation grew, according to the Investing.com analysis. Meanwhile, the so-called “hard money trade” persisted, with the Bitcoin-to-gold ratio rebounding to pre-tariff levels and institutional demand helping to stabilize prices, the report said.

The October market review highlighted the industry’s evolution. While Bitcoin’s monthly loss pointed to structural changes, BNB’s rally showcased speculative enthusiasm in certain areas. For investors, the month was a reminder of the crypto market’s dual nature—balancing sensitivity to macroeconomic factors with volatility driven by retail speculation.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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