Bitcoin: October Set for Second Straight Red Close

Bitcoin is tracking a 7.52% decline for October, setting up its second consecutive red close and the largest monthly loss since 2014, according to data shared by @simplykashif.

With hours remaining before month-end, the period could rank as the fourth-worst October on record by returns and only the sixth negative close ever.

Bitcoin trades at $77302.03 on the 4h chart inside a bearish structure defined by the EMA50 at $79958.62 and EMA200 at $81390.73. The MACD at -952.53 confirms the death cross while RSI at 36.49 sits neutral. Price remains inside the Bollinger Bands with the upper band at $82934.46 acting as near-term resistance and the lower band at $75841.61 as support; any test of the upper band would likely meet selling into the 50-EMA before further downside continuation.