Bitcoin was little changed on Friday, limping toward a rare negative October as a bout of global risk aversion—stoked by U.S.–China trade tensions and macro uncertainty—kept dip-buyers on the sidelines. The largest cryptocurrency slipped 0.3% to $110,012.4, leaving it down 3.7% for the month and on track to snap the “Uptober” pattern that has historically favored gains.

Traders found scant comfort in this week’s optics from the Trump–Xi meeting: upbeat rhetoric failed to translate into concrete timelines or deliverables, muting any durable improvement in risk sentiment. The macro undertone also turned heavier after the Federal Reserve delivered a widely expected quarter-point cut but signaled that a December move is not a given—guidance that nudged real yields and the dollar firmer and typically weighs on non-yielding assets like Bitcoin.

Seasonality didn’t help. After years of lore around “Uptober,” BTC looks set for its first October decline since 2018. The month opened with a flash crash from record highs amid resurgent U.S.–China frictions, and every subsequent rally attempt above $110,000 has faded as on-chain and derivatives positioning show little appetite for large directional bets. October also showcased a decoupling from U.S. mega-cap tech: Wall Street’s AI-driven melt-up pushed the Nasdaq toward a ~4% monthly gain, but the optimism failed to spill over into crypto.

Corporate news painted a brighter micro backdrop. Strategy Inc (NASDAQ:MSTR)—the largest corporate holder of Bitcoin—posted stronger-than-expected third-quarter results, sending its shares up as much as 6% after hours. Chair Michael Saylor reiterated a bullish outlook, projecting $150,000 for BTC by end-2025. Coinbase (NASDAQ:COIN) also topped expectations on robust trading volumes, lifting the stock in late trading. These milestones underscore ongoing institutionalization—even if macro currents are dictating near-term price action.

Broader tokens mirrored Bitcoin’s tone. Ether fell to $3,849.69 (−1.8% on the day, −7% in October). XRP slid 3% (−12.6% MTD), Solana is down 11% for the month, and Cardano underperformed with a 24% October drop. BNB bucked the trend with a ~9% monthly gain, while among memecoins Dogecoin fell 20% and $TRUMP advanced ~9% on token-specific catalysts.