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October Wrap Up: Was It Uptober or Not?

Not this time. Bitcoin closed October down 7.32%, its weakest October since 2014 and the first back-to-back October decline since 2011 and 2012. It had been up earlier in the month, but a late slide pushed it to a six-week low of about $76.1k, and it ended the month near $77k.

Ether had it worse, down about 16% in October with a record $1.6B of net outflows from spot ETH funds. A $6.3B hack at Binance on October 29 and hotter than expected US inflation data hit sentiment, and the Fear & Greed Index dropped from 70 to 36 during the month.

Is this a healthy reset or the start of a bigger drop? πŸ‘‡

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