Bitcoin’s price has broken through USD 111,000, ether’s USD 3,900, but overall Uptober is a month of disappointments. What will happen in November?
The bitcoin price has broken through USD 111,000, but has lost approximately 2% of its value over the last 30 days. It’s hard to describe the last 24 days as Uptober. Today, one bitcoin costs USD 111,103.
Ether has broken through almost $4,000, but 1 ETH is currently trading at $3,959.
Ether lost 4.5% of its value in 30 days.
Most top altcoins have been bleeding for a month.
The lack of Uptober shows that distorting the reality and investing “in the past” is not wise. However, there are many indications that the bear market has not started yet (there was a lack of crash and extreme enthusiasm), the bull market continues, and the fate of cryptocurrencies depends on the Fed’s policy. On October 29, the US central bank may reduce interest rates again, and Jerome Powell may announce the end of quantitative tightening (even JP Morgan assumes this scenario). These factors should fuel stronger growth.
In addition, the conclusion of a US trade agreement with China should also help bitcoin and altcoins fight for higher levels.
Ryan Lee, Chief Analyst at Bitget, described for us what is happening on the trading floor today:
The October market can be described as a story of two realities. Bitcoin and ether continue to dominate thanks to inflows into ETFs and growing regulatory optimism. However, beneath the surface, it is clear that altcoins are losing momentum.
The dominance of open positions in altcoins has increased significantly, which increases the risk of liquidation during sudden price movements. Even though the total value of locked assets (TVL) on networks like solana and cardano has increased by 60%, this signals a structural halt rather than a healthy rotation – liquidity is concentrated in the largest projects, and smaller-cap tokens are still feeling the effects of the October 10 sale and the $20 billion liquidation overhang.
According to Bitget, this is part of a broader phenomenon that can be described as a “narrative reset”. The glut of topics such as AI, RWA or memecoins weakened investor enthusiasm, which led to a phase of sentiment consolidation.
However, history shows that periods of stagnation often precede new waves of growth. As leverage is reduced and liquidity stabilizes, new themes and technologies may emerge in the market that will usher in the next stage of innovation.
In the near term, Bitget expects a selective accumulation of solid projects, while maintaining bitcoin’s dominance around 54%, which may create the foundation for a more sustainable and diversified bull market until 2026.
