Bitcoin's Red October: First negative close in seven years

Ekta Mourya FXStreet

Bitcoin just made history twice in October: a new all-time high above $126,000, then its first negative monthly close since 2018. With BTC consolidating under $110,000 and momentum indicators turning bearish, traders are watching $103,500 support as the critical level. We break down whether November brings recovery to $118,000 resistance or a repeat of 2018's brutal 36% crash.

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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