Bitcoin sees weakest October since 2014; Citi, Coinbase partner on Stablecoin payments

October is usually known as “Uptober” in the crypto world—a month when digital assets, especially Bitcoin, tend to rally. But 2025 is proving to be an exception. So far, this October is turning out to be the weakest for cryptocurrencies since 2014.

Traditionally, October has been a bullish month for Bitcoin, with gains recorded in 10 out of the past 12 years. On average, Bitcoin has delivered around 20% monthly returns during this period. For example, Bitcoin jumped 60% in October 2013, 50% in 2017, and 40% in 2021. Even in 2024, when the market was relatively subdued, Bitcoin still gained 10%.

This year, however, the trend has reversed. Bitcoin, which touched a monthly high of $126,000 on October 6, has since fallen sharply to around $105,000, marking a steep decline. Nearly $20 billion in leveraged trades have been wiped out in October alone, making it one of the most volatile months in recent memory.

Despite the market weakness, there’s optimism on the innovation front. New partnerships are emerging in the blockchain and Web3 ecosystem. The latest is a collaboration between Citi and Coinbase to explore on-chain Stablecoin payments. These payments are designed to improve transaction speed, efficiency, and programmability—areas where blockchain technology can make a significant impact.

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The US has been actively working on Stablecoin regulation, with new policies encouraging transparency and compliance. Stablecoin transactions already account for billions of dollars in monthly transfers, reflecting growing adoption. Coinbase, which partners with over 250 financial institutions worldwide, now adds Citi to its list as it continues expanding in the regulated digital finance space.

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