Bitcoin’s October Glow-Up Was a Sugar Crash from $126K

KEY POINTS

•Bitcoin peaked at $126,000 in early October before falling sharply to $81,919 by late October Friday morning.
•In the past day, bitcoin’s value dropped more than 10%, hitting its lowest point since April.
•According to CoinGecko, the global cryptocurrency market lost nearly $400 billion this past week.
•Unlimited Funds CEO Bob Elliott said the bitcoin sell-off mirrors recent stock market weakness but with 'much more extreme' moves.

Bitcoin went on a caffeine crash worse than your Monday morning, tumbling from a record $126,000 in early October to a bruised $81,919 by the Friday after Halloween. This isn’t your regular crypto cough, it’s a full-on bloodbath wiping nearly $400 billion from the global crypto market, shriveling the party-sized $3 trillion valuation. Bob Elliott, clubhouse CEO of Unlimited Funds, did the math and noted stocks are whining, but bitcoin’s meltdown is like stocks on steroids—except steroids that make you cry. The worst monthly wipeout since the infamous June 2022 'catastrophic period' is here, and everyone’s watching where the panic button stops.