Bitcoin Price Drops to $105K: Uptober or Downtober This Year?

Will Bitcoin Price Defy Uptober Odds? Bullish Signs Fade

As the cryptocurrency industry stumbles to the greatest market crash ever, the Bitcoin price has plummeted to a severe low of $105k from around the $120 range. The crypto market is now at $3.75 trillion, down by about a massive 10%.

Historically, October has been a bullish month for BTC and the broader crypto market. However, as the coin continues to plummet in response to the escalating Trump tariff pressure, the community is anxious about its potential future. Now, the question is- will this month be an “Uptober” or a “Downtober” for the cryptocurrency?

BTC Plummets to $105,000 Amid Crypto Market Turmoil

The Bitcoin price has been hovering near its $126k all-time high recently, sparking speculations of its bullish rally in the fourth quarter, driven by historical trends and growing adoption. However, the momentum swung after US President Trump announced a 100% tariff on China, with the industry experiencing the greatest of all debacles.

Earlier today, BTC reached a monthly low of $105,000, marking more than a 10% decline. At press time, the coin is valued at $112,149, down by 7.55% in a day, 8.3% in a week, and 1.7% in a month. Despite this plummet, the 24-hour trading volume has seen a massive 161% surge, reaching $197 billion.

Over the last 24 hours, the crypto market has witnessed a massive wave of liquidations, with over $5 billion in BTC liquidated across major exchanges like Hyperliquid, Bybit, Binance, and OKX. Long liquidations stand at $4.69 billion, while short liquidations total $703.24 million. In the past 4 hours, liquidations continued to mount, with $34.59 million in total liquidations, comprising $28.65 million in long positions and $5.94 million in short positions.

Will BTC Continue to Drop in October?

As per historical trends, the Bitcoin price was expected to see a massive rally in October, often known as Uptober. 12 out of 15 years from 2011 to 2025 have shown positive returns. The average return for October stands at 14%, with a median return of 11.2%. Although recent trends have been mixed, with a -1.59% return in 2025, the past two years have shown significant variability, with returns of 11.2% in 2024 and 28.5% in 2023.

However, this year, October is expected to be red for the coin, driven by the recent development and technical indicators. Anayst Crypto Rover shared an X post, noting, “October is now red for Bitcoin.”

Analyst Ted also shared an analysis highlighting the crypto’s massive plunge, which led to the liquidation of nearly $20 billion in long positions - the highest ever recorded in history. He added that the coin’s current attempt to recover and reclaim the $113,500 level hints at a possible relief if the level is attained.