Bitcoin Down 2% in October, Missing Its Usual 'Uptober' Gains
Bitcoin retakes $82,000 but is still down for October
Bitcoin traded close to $82,393 on Monday, up nearly 2% over the past day but still lower over a seven-day period, according to Bitcoin Magazine. Since the start of October, the price has fallen by about 2%, a slow start to the month traders often call "Uptober."
The name comes from bitcoin's habit of rising in October, but that has not happened so far this year. Last week's trading was uneven and held back gains.
Key numbers
- Bitcoin was recently near $82,393, up about 2% in a day but down over seven days.
- The price has dropped about 2% since the start of October.
- US investors redeemed $228.4 million in bitcoin ETF shares last week, according to Farside Investors data cited by Bitcoin Magazine.
- Bitcoin spent most of 2026 trading under $70,000, well below its all-time high of $126,080.
- September ended with a gain of nearly 6% over 30 days, and the third quarter was bitcoin's best three months since 2024.
ETF sell-off pulled money out of bitcoin funds
Exchange-traded funds, or ETFs, are investment products that trade on stock exchanges and let investors gain exposure to an asset without buying it directly. The bitcoin funds involved are managed by BlackRock, Fidelity, and Grayscale.
The $228.4 million in redemptions came from what Bitcoin Magazine described as speculators cashing out. The article notes that bitcoin's price often moves with investor buying of US ETF shares.
What is confirmed
Bitcoin's price level, the daily and weekly moves, the October decline, the ETF outflow figure, the 2026 price range, the all-time high of $126,080, and the September and third-quarter performance all come directly from the source data.
What is still unclear
The reasons behind last week's ETF redemptions are not stated in the source, and it is not known whether investors will return to the funds. Whether October will end higher is also unknown.
What drove the earlier rally
Bitcoin began rising in August after the US Treasury Department said it would more than double the size of its government debt repurchases, the source reports. The coin then had its best run in three years and its third best August on record.
The source also attributes recent gains to the "debasement trade," meaning investors buying certain assets to protect against a weakening currency, noting the dollar lost value in August.
Why it matters
Analysts quoted in the source say bitcoin is now in a bull market, a term for a sustained period of rising prices. That view sits alongside a month that has so far gone the other way, leaving open the question of whether October can extend a strong run.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.