THE STREET · 2026-10-28 19:02 UTC

Bitcoin's 'Uptober' rally just fell apart as demand weakens

Bitcoin is down 4.2% in October 2024, closing at $80,051 on Oct. 25, tracking toward its second straight losing October and weakest month since 2020. Weak demand is driving the decline, with CryptoQuant's 30-day demand measure at minus 76,000 BTC and US buyer demand (Coinbase Premium) at its lowest since June 30. Some analysts like Michael Sullivan view Bitcoin as undervalued at $80,000, citing historical parallels to 2015 conditions that preceded strong buying opportunities.

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