Gold

JPMorgan

Bitcoin

<p>Bitcoin ended October near $77,558, down about 7.3% from its $83,554 open. That is its weakest October since 2014. A sell-off in US tech stocks and gold added to losses from a record exchange hack.</p>
<p>Bitcoin traded near $77,800 on Sunday, November 1. The monthly low was $76,314.</p>
<h3 id="what-happened-on-friday">What Happened on Friday</h3>
<p>Intel warned on Thursday that fourth-quarter sales would miss expectations. Its shares fell nearly 30% at Friday’s open. The Nasdaq Composite dropped to about 25,500, its lowest level since early August, and closed the day down 2.9%.</p>
<p>JPMorgan said renewed fears over AI monetization would keep pushing investors out of tech. The Nasdaq now sits 7.8% below its October 6 record close.</p>
<p>Gold fell with stocks. It touched $3,891 per ounce, its weakest price in a year. Brent crude settled above $117 a barrel, which adds inflation pressure at a time when markets already doubt rate cuts.</p>
<h3 id="the-binance-hack">The Binance Hack</h3>
<p>Bitcoin’s worst day came before the stock sell-off. On Thursday, October 29, hackers took about $6.3 billion from Binance, the largest crypto exchange. It is the biggest theft in crypto history. Bitcoin lost 4.3% that day.</p>
<p>The FBI linked the attack to North Korea’s TraderTraitor group. Crypto firms froze more than $3 billion of the stolen funds. Binance says it has replenished about 90% of the losses and will absorb customer damage.</p>
<p>The hack triggered roughly $1.5 billion in liquidations. Long positions made up 79% of them. Bitcoin futures open interest reached a five-week high of 686,000 BTC, so many traders were leveraged long when the price broke.</p>
<h3 id="how-october-went-wrong">How October Went Wrong</h3>
<p>October is known as “Uptober.” Since 2013, Bitcoin has averaged a gain of about 20% in the month. Only 2014 and 2018 closed red before 2025.</p>
<p>Last year set the pattern. Bitcoin hit a record near $126,000 in early October 2025. A record liquidation event on October 10 and 11 then erased much of that rally. The month closed down 3.95%.</p>
<p>Bitcoin never recovered that high. It fell into the mid-$80,000s and its 12-month peak since then is $86,603, set on September 21, 2026. This October opened below that level, so the new losses came from a market that was already weak.</p>
<p>Bitcoin now trades about 38% below its all-time high. The 7.3% drop is far smaller than the 13% loss in October 2014. Still, a second red October in a row is rare.</p>
<h3 id="sentiment-and-flows-turned-fast">Sentiment and Flows Turned Fast</h3>
<p>The Crypto Fear and Greed Index fell from 70 on October 4 to 36 on October 30. The market moved from greed to fear in under four weeks.</p>
<p>US spot Bitcoin ETFs lost $643.3 million on October 30, their largest daily outflow of the month. That ended four straight days of inflows. Cumulative net inflows slipped to about $57 billion from a peak of $57.8 billion.</p>
<p>The outflow is small against the fund total. It does show institutional buyers are not stepping in to absorb the selling.</p>
<h3 id="arguments-for-a-rebound">Arguments for a Rebound</h3>
<p>Bitcoin did hold above $76,000 on Friday, and Binance’s repayment lowers the risk of a forced sell-off by the exchange. If the stolen funds stay frozen or recovered, the hack’s direct cost to users shrinks.</p>
<p>November has been Bitcoin’s strongest month historically, with an average gain above 40% since 2013. Past patterns are not a forecast, though. Previous large drops in the Fear and Greed Index were followed by lower prices 30 days later.</p>
<p>QCP Capital said macro conditions, tech fears and the Binance hack created “a period of heightened market repricing.” It named tech spending guidance as the key variable for AI sentiment.</p>
<h3 id="levels-to-watch">Levels to Watch</h3>
<p>Bitfinex analysts name $75,000 as key support. A sustained recovery needs a move back above $80,000, where Bitcoin traded between October 24 and the hack.</p>
<p>The Nasdaq is a second driver. Bitcoin has moved with tech stocks through this sell-off, and gold’s fall removed the idea that it was acting as a safe haven.</p>
<p>Further tech earnings and capital spending guidance will set the tone for risk assets in early November. A clean recovery in stocks would help Bitcoin. Another AI-driven sell-off would test the $75,000 level.</p>

Bitcoin Closes Its Worst October in 12 Years as Stocks and Gold Fall

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