BNB Wins “Uptober” Despite Analysts Accusing Binance of Triggering Market Crash
Historically, October has been one of the best-performing months for Bitcoin. That’s why Bitcoiners nicknamed it “Uptober” due to the consistent gains seen during that period over the years. However, the coin has posted a monthly loss of 5.6% this year, with BNB stealing the show after surging 6.1%. This article explains why BNB has
Andrew Richard3 min read
Historically, October has been one of the best-performing months for Bitcoin. That’s why Bitcoiners nicknamed it “Uptober” due to the consistent gains seen during that period over the years. However, the coin has posted a monthly loss of 5.6% this year, with BNB stealing the show after surging 6.1%.
This article explains why BNB has performed well in October, as Bitcoin struggles.
Bitcoin started the month on a high note, rallying to a new all-time high of $126,000. The price surge was fueled by the US government shutdown, which began on October 1 after policymakers failed to pass the funding bill. However, Bitcoin’s rally was cut short on October 10 when US President Donald Trump announced plans to impose more taxes on Chinese imports. His announcement triggered a severe downtrend, with BTC’s price dropping below $103,000.
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