Bitcoin Heads for Another October Loss as Demand Weakens

Bitcoin (BTC) is on track for its second consecutive losing October, down 3.3% as of October 28. According to a recent CryptoQuant report, BTC traded near $81,350, down from its September closing price of $83,570. Historically, that’s a sharp change from October’s usual strength, as Bitcoin ended every October from 2020 to 2024 in positive territory. Average gains during that period were about 18%. October 2025 broke that run with a 3.8% loss, and this year looks set to extend the losing streak. Spot demand has also weakened as Bitcoin’s price has fallen.