Bitcoin followed a fluctuating chart throughout October 
$110,037.86After falling to $106,000 yesterday, it recovered to $109,600 today. This move has led to cautious optimism among investors, as markets prepare for a historically stronger November following the unsuccessful “Uptober” period. Federal Reserve Chairman Jerome Powell’s cautious speech about interest rate cuts and the re-ignition of trade tensions between the USA and China increased the short-term selling pressure.
Pressure in Altcoins, Resistance in Bitcoin Dominance
October was far from expectations for crypto investors. Although this period, known as “Uptober”, is generally associated with double-digit increases, Bitcoin could not exhibit the same performance this time. BTC, which touched the $ 125,000 level at the beginning of the month, fell to $ 108,000 with the US-China trade tension and new customs tariffs. That day, Bitcoin lost 10 percent of its value, while other cryptocurrencies lost 20 to 40 percent. However, with intense volatility, there was a short-term recovery to $113,000.
Not only Bitcoin but also altcoins went through a difficult period in October. Ethereum 
$3,846.74 While it fell below $ 3,790 from time to time, Solana fell below $ 187. Despite this, Bitcoin’s market dominance remained stable at around 57 percent. This shows that the market is not completely resolved, but rather is in the process of consolidation. On the other hand, corporate purchases also decreased significantly. MicroStrategy (MSTR), one of the largest Bitcoin investors, purchased only 778 BTC in October, marking a 78 percent drop from September. The company’s total Bitcoin holdings have increased to over 640,000.
This stagnation in the crypto market is taking shape under the shadow of the recently increasing interest rate uncertainty and global trade wars. Similarly, trading volumes on US-based stock exchanges have decreased by 25 percent in the last month. This chart reveals that investors are risk averse in the short term.
‘Moonvember’ Hope: Expectations Extending to 2026
The month of November is humorously referred to as “Moonvember” in the crypto community. Bitcoin has generally gained momentum in the November periods following the historically strong October months. Analysts are of the view that although the picture may be different this year, the market has the potential to test all-time highs by 2026. For this, the Fed must follow a stable policy, increase new corporate entries and avoid sudden macroeconomic shocks.
Bitcoin, which has been stuck between $106,000 and $123,000 for the last four months, has fallen to record lows in volatility. Historically, such horizontal movements are seen as a harbinger of major directional movements. If past cycles repeat, a strong bullish scenario towards the $170,000–180,000 band by 2026 may come to the fore again. However, for this to happen, global capital flows must redirect towards risky assets.
The fact that Bitcoin remains strong despite October’s disappointment shows that the market maintains its fundamental belief. Throughout November, Fed decisions, inflation data and geopolitical developments will once again be decisive. According to experts, these periods when volatility is low can be an opportunity for long-term investors. But cautious optimism is becoming more important than ever in the crypto market.
