From Uptober to Downtober

What Comes Next

Hi First Name, October will go down in crypto history, but not for record performance or the long-awaited altcoin season. It began under the optimistic name "Uptober," historically a bullish month, and even marked a new all-time high at $126K. Yet, within days, everything unraveled.   The largest liquidation event ever recorded, nearly $20 billion in positions, hit on a quiet Friday with thin liquidity. What followed was a brutal reminder of how quickly excess leverage can turn optimism into panic. Even modest 2x positions were wiped out within hours.   From there, October set the tone: a slow, grinding decline that punished both late bears and late longs. Interestingly, fundamentals remained resilient throughout. Our data showed no structural weakness, no significant on-chain selling, no deterioration in long-term holder behavior.   The Swissblock Risk-Off Signal, which tracks selling pressure from strong hands, didn't move an inch: a clear anomaly in such intense market turbulence. This "Deleverage Event" appears less like organic panic, and more like an orchestrated liquidity flush. Looking Ahead: November As we enter November, Bitcoin has fallen below $100K for the first time in six months and struggles to reclaim higher levels. We now stand at a crossroads: One camp sees this as the start of a new bearish phase, The other, including us, notes strong internal structure and early signs that the market may be quietly rebuilding its foundations for the next move higher. The coming weeks will be critical in defining which narrative prevails.   Stay Ahead of the Curve At Swissblock, our mission is to read beneath the surface, connecting liquidity, structure, and macro flows into a clear view of market direction. Our Digital Asset Reports: Bitcoin Vector, Altcoin Vector, and Uncharted Lite, are built to help you navigate turning points like these with data-driven precision. Stay Informed with our reports Follow Us On Twitter Kind Regards The Swissblock Team © 2025 Swissblock Technologies. All rights reserved. swissblock.net Swissblock Technologies AG, Neuhofstrasse 22, Baar, 6340, Switzerland Unsubscribe Manage preferences