Bitcoin’s October Decline: US Trading Sessions & Institutional Selling Drive Down Prices

Bitcoin experienced a notable decline in October, dropping as much as -6% during U.S. trading sessions according to analysis by CryptoQuant. The weakness was primarily driven by significant institutional selling pressure, exemplified by a negative Coinbase Premium Gap of -$80 and outflows totaling $554 million in late October. Data from X reveals that while the broader crypto market saw relative stability with European and Asia-Pacific markets showing more consistent performance, U.S. trading sessions were the main source of Bitcoin’s October downturn. 💰 📉 📈 📍 ⏰ 🔍