Crypto Markets Consolidate as October Poised for Weakest Gains Since 2015
October is shaping up to be the least rewarding month for crypto investors since 2015, despite its historically bullish trend.
During Thursday’s Asian trading session, Bitcoin (BTC) held near $109,000, maintaining a broad range after the Oct. 10 crash, which erased $19 billion in leveraged bets and dampened risk appetite.
Ether (ETH) hovered around $3,850, while Solana (SOL), XRP ($2.49), and Cardano (ADA, $0.6454) showed minimal movement. Analysts note the market is in “sell-the-growth mode,” where small rallies are quickly faded amid thin liquidity and muted sentiment. The crypto fear index stands at 25, slightly above “extreme fear.”
Even Google’s announcement of a “quantum advantage” with its Willow chip failed to spark action. While practical quantum computing is still distant, the milestone briefly reignited concerns over Bitcoin’s cryptographic security.
With the Federal Reserve’s Oct. 29 meeting looming, traders remain cautious, waiting for a catalyst to break the tight trading range.
“Either the bulls lose patience, or the bears run out of conviction,” said Alex Kuptsikevich, chief market analyst at FxPro, noting the market is poised for a larger move.
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