Bitcoin Heads Toward Rare Consecutive October Losses
Bitcoin is down over 2% so far in October, putting the world’s largest cryptocurrency on track for its first back-to-back losing October in more than 10 years. October has historically ranked as one of Bitcoin’s strongest months, averaging roughly 18% gains with a median return of about 12.7% based on CoinGlass data.
Last year’s performance set a stark contrast to current market action. Bitcoin reached an all-time high of about $126,000 early in October before an October 10 crash erased those gains, finishing the month down more than 3%. Before last year, the month had ended in negative territory only twice, in 2014 and 2018.
Market Mechanics Driving the Current Slide
Bitcoin dipped to around $80,000 during the week, marking its lowest level since September 18 and leaving the asset down about 7% for the year. Bankless co-founder David Hoffman described Friday as “the third week of Downtober,” noting that the directional travel differs significantly from last year when prices descended from record highs rather than climbing from the $60,000s.
Selling pressure hit altcoins harder than Bitcoin over the same weekly stretch. Ethereum fell about 7.5%, while tokens including Solana, Zchas, Hyperliquid, and Near Protocol dropped another 10% following double-digit losses the week prior.
Bankless co-founders Hoffman and Ryan Sean Adams argued that the choppy market behavior resembles an early bull run. Adams pointed to 2023, a period when Bitcoin spent about seven months moving sideways and endured two 17% pullbacks while holding above its 50-week moving average.
“So that’s kind of the way early bull markets feel. They feel sideways,” Adams said.
Historical Monthly Performance Data
Bitcoin’s monthly returns across recent years illustrate deep volatility outside of its typical autumn strength:
- 2026 (October so far): -2.48%
- 2025 (October): -3.69%
- 2024 (October): +10.76%
- 2023 (October): +28.52%
- 2022 (October): +5.56%
- 2021 (October): +39.93%
- 2020 (October): +27.7%
- 2019 (October): +10.17%
- 2018 (October): -3.83%
- 2017 (October): +47.81%
- 2016 (October): +14.71%
Wider swings defined the asset’s performance earlier in the year, with CoinGlass figures showing drops of about 10% in January, 15% in February, and 20% in June, contrasted by a gain of about 25% in August.
Frequently Asked Questions
What was Bitcoin’s all-time high price last year?
Bitcoin reached an all-time high of about $126,000 early in October before an October 10 crash erased those gains.
When was the last time Bitcoin recorded consecutive losing Octobers?
Bitcoin has not posted two red Octobers in a row in more than 10 years, with prior negative Octobers occurring in 2014 and 2018.
How far did altcoins fall during the recent weekly dip?
Ethereum dropped about 7.5% over the week, while tokens such as Solana, Zchas, Hyperliquid, and Near Protocol dropped another 10% following double-digit losses the week prior.
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