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Bitcoin Price Today: Stalls at $110K with October Losses
Bitcoin barely moved on Friday and is set to break the “Uptober” trend, as heightened risk aversion amid U.S.-China trade tensions and economic uncertainty hit demand for cryptocurrencies.
The world’s largest cryptocurrency fell 0.3% to $110,012.4 and is down 3.7% in October.
Crypto markets saw little positive momentum from the recent meeting between U.S. President Donald Trump and Chinese President Xi Jinping, as a concrete trade deal between the two countries still appears distant.
Hawkish signals from the Federal Reserve also weighed on crypto markets earlier this week, while a rally in U.S. tech stocks driven by AI optimism had little impact on Bitcoin.
Bitcoin Poised for October Losses as “Uptober” Fails to Materialize
Bitcoin moved against seasonal trends this year and is headed for its first October loss since 2018.
This largely contradicted market expectations that the cryptocurrency would strengthen this month, as October is historically considered a strong period for Bitcoin. In crypto trading circles, this pattern is known as “Uptober.”
Rising trade tensions between the U.S. and China have been a major factor in Bitcoin’s performance, which saw a steep drop earlier in the month from record highs.
Since then, Bitcoin has struggled to break above the $110,000 mark, while on-chain and derivatives data also show traders remain cautious about taking large positions.
In October, Bitcoin and the broader crypto market increasingly decoupled from U.S. tech stocks, which have rallied to record highs amid AI-driven enthusiasm. The NASDAQ is on track to gain more than 4% in October.
Strategy Earnings Beat Expectations, Shares Rise After Hours
Strategy Inc (NASDAQ:MSTR), a Bitcoin-holding company, reported stronger-than-expected third-quarter earnings, prompting a sharp rise in its shares during after-hours trading.
Strategy shares rose as much as 6% in extended trading on Thursday.
The firm is the world’s largest corporate holder of Bitcoin and benefited as the token hit a series of record highs over the past three months.
Strategy Chairman Michael Saylor said he expects Bitcoin to reach $150,000 by the end of 2025.
Other crypto-related earnings were also positive. Coinbase Global Inc (NASDAQ:COIN) posted solid third-quarter results, boosted by strong trading volumes, sending its shares higher on Thursday.
Crypto Prices Today: Altcoins Decline, Facing Steep October Losses
Prices of most cryptocurrencies moved in tandem with Bitcoin and posted sharp losses in October.
The world’s second-largest cryptocurrency, Ether, fell 1.8% to $3,849.69 and is down 7% in October.
XRP slid 3%, losing 12.6% this month. Solana dropped 11%, while Cardano significantly underperformed, falling 24%.
BNB was the exception this month, set to rise nearly 9%.
Among meme coins, Dogecoin fell 20% this month, while $TRUMP is set to gain 9% in October following a rally earlier this week.
See also: "Bitcoin ETFs Lost $470 Million Amid Fed Rate Cut and Trump Trade Talks"
