Bitcoin Nears Second Red October as Nasdaq Falls 2.9%

Bitcoin traded near $77,000 heading into the final session of October, positioning the digital asset for a second consecutive monthly loss. The decline coincided with a sharp pullback in U.S. technology stocks and precious metals, countering the cryptocurrency's typical seasonal strength.

According to Reuters, Bitcoin touched $77,646 on Oct. 30 following a security incident disclosed by Binance. Ether fell to $2,238.76, while BNB declined more than 8% over a 24-hour window to trade at $694. Selling pressure accelerated alongside losses on Wall Street, where concerns over corporate artificial intelligence spending pushed the Nasdaq down 2.9% by Friday's close, leaving the index 7.8% below its Oct. 6 record closing high.

Breaking Seasonal Trends

Historically, October has been one of the strongest calendar periods for digital assets. CoinGlass data indicates that Bitcoin recorded gains in 10 out of 13 Octobers from 2013 through 2025, generating a median return of 14.6%. However, October 2025 ended that winning streak with a 3.95% drop, and current price levels point toward back-to-back negative Octobers.

Precious metals also retreated, with spot gold falling 3.63% to $3,874.58 an ounce and silver dropping 6.36% to $49.06. In contrast, Brent crude oil rose 2.4% to settle at $117.63 a barrel.

On-Chain and Demand Metrics

Underlying market indicators highlighted softening U.S. spot interest throughout the month. CryptoQuant data revealed that the Coinbase Premium Index remained negative across October, touching minus 0.146 on Oct. 24. CryptoQuant's apparent-demand metric recorded a 30-day shortfall of roughly 76,000 BTC by Oct. 25, while its Bull Score Index dropped from 90 to 60.

Despite the pullback, some institutions pointed to ongoing capital allocations. SoSoValue reported $176 million in net inflows into U.S. spot Bitcoin exchange-traded funds on Oct. 27, led by $151.5 million into BlackRock's IBIT and $24.5 million into Fidelity's FBTC, while spot Ether ETFs posted $60.2 million in daily outflows.

Key facts

• Bitcoin dropped to $77,646 on Oct. 30 after Binance disclosed a security incident.
• The Nasdaq fell 2.9% on Friday, sitting 7.8% below its Oct. 6 record close.
• CoinGlass data shows Bitcoin posted gains in 10 of 13 Octobers between 2013 and 2025.
• Spot gold declined 3.63% to $3,874.58 an ounce, while Brent crude gained 2.4% to $117.63 a barrel.
• CryptoQuant's Coinbase Premium Index reached minus 0.146 on Oct. 24.