Bitcoin price faces second straight ‘Downtober’ as US spot demand weakens

Bitcoin has remained on course for a second consecutive October loss, challenging its “Uptober” reputation as weakening U.S. spot demand offsets renewed purchases through exchange-traded funds ahead of the Federal Reserve’s October 28 decision. Summary Bitcoin is heading toward a second consecutive losing October after declining 3.8% in October 2025. BTC lost 4.2% through October 25, compared with an average October gain of 18.1% during 2020–2025. CryptoQuant recorded a persistently negative Coinbase premium, indicating weak relative demand on the U.S. exchange. Spot Bitcoin ETFs attracted $176 million on October 27, led by BlackRock’s $151.5 million IBIT inflow. CryptoQuant’s Bull Score Index fell from 90 to 60 ahead of the Fed decision and November elections According to crypto.news market data, Bitcoin price dropped from about $83,600 at September’s close to $79,200. BTC subsequently recovered toward $81,500 on Wednesday, reducing that earlier loss, although the final monthly result remains undecided with three calendar days left. The cryptocurrency last closed October lower in 2025, when it lost approximately 3.8%. Another negative finish would make 2026 the second losing Octob...