The 10-year turning point indicated by the Bitcoin chart: What the October decline signifies

mev_me_maybe · 2026-02-16T15:22:11+00:00

The cryptocurrency market has faced a significant decline in October, ending a seven-year trend of rising prices, challenging the "October myth." This shift indicates changing relationships with traditional markets and alters investor psychology, signaling a maturation of the cryptocurrency space.

mev_me_maybe

2026-02-16 15:22:11

Abstract generation in progress

There has been a change in the cryptocurrency market. The October monthly chart recorded a decline of over 5%, reaching a historic situation not seen since 2018. This movement marks a significant turning point, signaling the end of the long-standing “October Myth” that has supported investors for many years.

End of Seven Consecutive Years of Growth: Background of the Historic Turning Point

According to Bitcoin chart analysis, the upward trend in October had continued for seven years, solidifying the image among crypto traders as the “Lucky Month.” However, this year, that consecutive record has come to an end.

Adam McCarthy, senior research analyst at digital market data provider Kaiko, has analyzed the background of this change in detail. He points out that after cryptocurrencies rose in early October in tandem with historic highs in gold and stock markets, Bitcoin was unable to return to its previous upward trajectory due to the uncertainty experienced throughout the year.

Changes in Correlation with Gold and Stock Markets

The decline in the Bitcoin chart suggests more than just price fluctuations; it indicates that the relationship between the cryptocurrency market and traditional financial markets is changing. Historically, rises in gold and stock markets have been observed to promote Bitcoin’s rise, but now that relationship appears to be becoming more complex.

Investor Sentiment and Future Market Outlook

The recent movement in the Bitcoin chart has had a significant impact on investor and crypto trader psychology. The end of the “October Rise Myth” is prompting market participants to reconsider their strategies, and it will likely become a key factor influencing the future direction of the cryptocurrency market. This change indicated by the Bitcoin chart is interpreted as a reflection of the market’s maturation and structural evolution.

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