Bitcoin price faces second straight ‘Downtober’ as US spot demand weakens

Bitcoin has remained on course for a second consecutive October loss, challenging its “Uptober” reputation as weakening U.S. spot demand offsets renewed purchases through exchange-traded funds ahead of the Federal Reserve’s October 28 decision.

According to crypto.news market data, Bitcoin price dropped from about $83,600 at September’s close to $79,200. BTC subsequently recovered toward $81,500 on Wednesday, reducing that earlier loss, although