Bitcoin's Slide Continues: Will 'Uptober' 2026 Outperform Last Year?

Bitcoin Magazine reported on Monday that the cryptocurrency continued its slide, raising the question of how October 2026 will compare to last year.

On Monday, bitcoin fell another 2% over a 24-hour period, trading at just above $82,423.

Over the last seven days, the digital asset has lost 3%, and it is currently in the red for October.

Historically, October tends to be a bullish month for bitcoin. According to Coinglass data, the cryptocurrency has ended eight out of the past ten Octobers with gains.

Last year was an exception. After reaching a record high of $126,080, bitcoin entered a bearish phase following October 10, when the largest crypto liquidation event on record hammered its price.

Tariff threats from President Donald Trump triggerd widespread market losses. Long crypto positions were wiped out, and over $19 billion in digital asset bets were liquidated.

Bitcoin then spent most of 2026 in a bear market.

On the positive side, bitcoin recorded its strongest quarter in years and a good September — historically a rough month. Analysts note that despite a poor start to "Uptober", signs of a bottom this month may already be present.

In a report for data firm CryptoQuant, Japanese asset manager XWIN said the price could rise from here.

"Now, signs of a potential bottom are emerging," XWIN said in a note. "On October 12, markets priced roughly an 18% chance of an October Fed hike, while Brent crude had eased from nearly $110 to around $103."

It added: "'Uptober' need not mean uninterrupted gains: a correction can build the foundation for the next advance."

High oil prices have, in the short term, hurt bitcoin's price as investors expect the Federal Reserve to hike rates to control inflation.

However, when the U.S. central bank raised rates last month, bitcoin's price was unfazed and rose on the news.

Other analysts have said the largest cryptocurrency has exited its bear market after crossing its 365-day moving average — a signal that has historically marked the start of bull runs.