In Bitcoin We Trust Newsletter

In Bitcoin We Trust Newsletter

Uptober Canceled: The End of a Myth or a Necessary Pause? Analyzing a Red October for Bitcoin.

The failure of “Uptober” 2025 is a valuable lesson.

Sylvain Saurel
Nov 02, 2025
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With a monthly close of -3.69%, Bitcoin records its worst October since 2014. Is this the beginning of the end, or a simple blowback from a historic 565% rally? A deep dive into the heart of a market in an identity crisis.

The silence is deafening. Where euphoria was expected, a cold disappointment has set in. In the folklore of the cryptocurrency market, the tenth month of the year is haloed with an almost mystical reputation: “Uptober.” A term that evokes green candles, explosive gains, and the start of the great year-end sprint. But in 2025, the myth shattered.

This year, the traditional “Uptober” did not happen. The king of crypto-assets, Bitcoin (BTC), closed the month on a bitter note, shedding 3.69% of its value. A figure that, taken in isolation, might seem trivial in a market known for its volatility. Yet, this figure tells a much deeper story: that of a betrayed expectation and a performance that stands as the worst October for Bitcoin since 2014.

The month had, however, started under the best auspices, carrying the total market capitalization to stratospheric heights. But the honeymoon was short-lived. Behind this pullback lies a drama in several acts: a new all-time high, revived geopolitical tensions, a flash crash, and the fatigue of a market in the middle of a marathon.

So, how should we interpret this disappointment? Is it the alarm bell everyone feared, the spark before the great fire of a bear market? Or is it simply a logical breath, a necessary consolidation after a parabolic ascent of nearly two years? Let’s analyze the mechanics of this narrative failure and what it portends for the future.


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© 2025 Sylvain Saurel
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