Bitcoin’s ‘Uptober’ 2026 Starts with Slide, Analysts Eye Potential Bottom

Bitcoin's 'Uptober' — Bitcoin’s price slid further on Monday, extending a weak start to October 2026 as it trades down for the month so far, testing the historical strength often dubbed ‘Uptober’.

The asset dropped 2% over a 24-hour period to trade just above $82,423, bringing its weekly decline to 3%. October has historically been a strong month for Bitcoin, finishing in positive territory eight of the last ten years. Last October was a notable exception, however, as Bitcoin’s run to an all-time high of $126,080 was abruptly halted by a massive market-wide liquidation event triggered by geopolitical tensions.

Analysts from asset management platform XWIN, writing for CryptoQuant, suggest signs of a potential bottom are now emerging. They point to shifting market expectations for Federal Reserve policy and easing oil prices as factors that could support a recovery. “‘Uptober’ need not mean uninterrupted gains: a correction can build the foundation for the next advance,” XWIN noted.

Other analysts posit that Bitcoin has already exited its bear market, citing its recent crossover above the 365-day moving average—a technical signal that has marked the start of prior bull cycles. This comes after Bitcoin posted its best quarter in years and a positive September, which is typically a weak month for the cryptocurrency.