MOSCOW, Russia / CryptoWire.AI / – Bitcoin and Ether both ended October with their steepest losses for the month in years, according to CoinGlass data. Bitcoin fell 7.32% from the end of September, its weakest October since 2014. Ethereum lost 16.06%, the largest October decline since 2016. Most other major cryptocurrencies also fell during the month, turning a traditionally strong period into a losing one.
In 2014, Bitcoin’s October loss reached 12.57%, the only larger drop for the month in the data. Ether’s 2016 decline was 16.84%. Ether also fell in October 2018, 2024 and 2025, losing 15.23%, 3.35% and 7.21% respectively. The latest slide contrasted with the more upbeat Wall Street forecasts for Ether issued at the start of the month. U.S. Ether funds recorded $1.08 billion of outflows in October through October 21, the largest monthly outflow of 2026, according to reports.
RBC, a Russian business outlet, said Bitcoin closed October higher in 11 of the 16 years from 2010 to 2025. The median gain in those years was 10.9%. This year, the market instead saw falling prices and mass liquidations of leveraged positions. Bitcoin previously ended October lower in 2018, down 4.65%, and in 2025, down 3.95%. A short-lived recovery in late October did not reverse the trend.
A tough year for the largest cryptocurrency
October was not the only losing month for Bitcoin in 2026. The cryptocurrency fell 10.16% in January and 14.79% in February, according to CoinGlass. It declined 3.57% in May and 20.41% in June, which remains its worst month of the year so far. On November 3, at 8:30 a.m. Moscow time, Bitcoin was trading at $76,615 on Binance, a fall of 2.18%. Ether was 2% lower at $2,247 at the same time.
The losses came as Binance dealt with what may be the largest crypto theft ever. The exchange said in late October that the preliminary damage from the attack was about $6.3 billion. It paused withdrawals while it investigated and later reopened them in phases. Initial findings pointed to an infected laptop used by one of its engineers. Binance has since reported additional points of entry. Bitcoin slid to a six-week low of about $77,600 after the breach was disclosed.
Pyongyang denies role in Binance attack
The FBI has attributed the attack to TraderTraitor, a North Korean hacking group, and said more than $6 billion in assets were stolen. The bureau said the group was converting much of the haul into Ethereum. Binance said about $3 billion of the affected assets have been frozen. The exchange has promised to cover all user losses with its own funds. It has also said it will publish a full post-mortem.
North Korea rejected the U.S. allegations in a statement published by the state news agency KCNA. Kim Yo Jong, the sister of leader Kim Jong Un, described the claims as absurd rhetoric and nothing new. She said the FBI was trying to brand North Korea a cyber criminal state. Pyongyang has also denied involvement in the 2025 Bybit theft, which Washington linked to its hackers.