Bitcoin's monthly chart declines, breaking a seven-year streak of October gains

Bitcoin's October monthly line fell over 5%, marking the first decline since 2018 and ending a seven-year streak of October gains, a trend that had led cryptocurrency traders to view October as a lucky month.

Adam McCarthy, a senior research analyst at digital market data provider Kaiko, stated that after entering October, cryptocurrencies followed gold and the stock market, which approached record highs. However, with what may be the first uncertainty of the year hitting, the trend rotation did not fully revert to Bitcoin.