Bitcoin fell nearly 10% in October, marking its first negative “Uptober” since 2018 and ending a seven-year streak of monthly gains. The drop came amid reduced institutional inflows and profit-taking from long-term holders following a strong third-quarter rally.
Analysts note that macro uncertainty and stablecoin outflows weighed on sentiment, pushing Bitcoin below key technical levels. Despite the pullback, overall market liquidity remained steady, suggesting continued investor engagement.
In contrast, BNB Chain saw record on-chain activity led by a surge in memecoin trading. Daily transactions and active addresses climbed to all-time highs as retail traders rotated into high-volatility tokens, signaling a risk-on shift across parts of the crypto market.
