The price of Bitcoin has experienced a modest rebound, currently standing at $109,600, following a dip to $106,000 that occurred yesterday. This marks the conclusion of a turbulent October for the cryptocurrency.

Market participants are adopting a cautiously optimistic stance as the market shifts from the disappointing “Uptober” rally towards the historically robust month of November.

On the previous day, Bitcoin experienced a decline of over 3%, attributed to renewed risk-off sentiment triggered by the hawkish remarks of Federal Reserve Chair Jerome Powell regarding future interest rate cuts, in addition to escalating U.S.–China trade tensions.

This downturn extended a week-long trend that commenced after the Federal Reserve implemented a modest 25 basis point cut but expressed uncertainty regarding the upcoming December meeting.

October: A Disappointing Month for Bitcoin

Bitcoin commenced October with heightened expectations for the so-called “Uptober,” a seasonal trend typically associated with double-digit gains.

During the early part of the month, Bitcoin briefly peaked at $125,000, only to subsequently surrender much of those gains amidst macroeconomic concerns and sluggish institutional activity. On October 10, the price took a sharp decline from $117,000 to the $108,000 range due to heightened U.S.-China trade tensions and the imposition of new tariffs, inciting a market-wide sell-off.

At its lowest point, Bitcoin experienced a decline of approximately 10% on that day, with other cryptocurrencies suffering even steeper losses ranging from 20% to 40%. It later recovered to around $113,000 amidst significant market volatility.

Bitcoin’s Price Recovery: Is “Moonvember” on the Horizon?

As traders look ahead, their focus shifts to November—sometimes referred to as “Moonvember”—which has historically followed strong performances in October.

Despite existing macroeconomic pressures, certain analysts foresee the potential for Bitcoin to revisit its all-time highs as it approaches 2026, provided the Fed maintains stable guidance, renewed inflows materialize, and no unforeseen shocks occur.

Nevertheless, Bitcoin has traded in an unusually narrow range between $106,000 and $123,000 for over four months, resulting in record-low volatility—a pattern that historically precedes significant trending movements.

If historical patterns hold true, Bitcoin could potentially experience substantial gains towards the $170,000–$180,000 range by 2026, although sideways trading may persist until macroeconomic catalysts, such as Fed rate cuts or capital rotation, induce renewed volatility.

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