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Analysts say 'Uptober' is canceled as Bitcoin and major altcoins slide amid a highly uncertain and volatile environment. Bitcoin and Ethereum. Source: Shutterstock/Decrypt In brief Bitcoin is down 4% this month, defying its historical 19.84% average return for October. Analysts say on-chain data and failed rallies point to a continued correction phase. Sharp price swings reflect a market torn between institutional optimism and macro risks. Bitcoin’s recovery this week continues to lag, leaving most altcoin performances in the red. Now, investors are questioning whether crypto’s seasonally bullish October, dubbed Uptober, has ended before it ever really began. Currently, the top crypto is down 4% in October, deviating from the month’s historical mean return of 19.84%, per CoinGlass data. Ethereum is down 5%, while Solana and other major altcoins are down double digits, per CoinGecko data. The crypto market experienced a bullish wave of enthusiasm in the first week of October as buying pressure rose, pushing Bitcoin from $115,000 to a record high of $126,200. 

There were some requests to translate this first-hand lore about 索拉拉 into English so I did it: Seeing so many discussions, I thought I’d share this story about 索拉拉 (Suolala) from a first-person perspective. Last week, we (Trends) kicked off a fun community event to give Solana a Chinese name. We invited all types of people in the industry to participate, and the response was incredibly lively (thank you all!) I invited @BTCdayu to participate. He came up with a “Chinese name with an accent” -索拉拉 (Suolala) - joking that he played the meme too hard and “out of 10 Suolalas (10SOL) only 0.01 remained.” That very night, the official Solana account replied to him with the meme: “My dear, our suggestion is… wait for a miracle!” And to everyone’s surprise, Lily replied too, saying she saw “索拉拉 (Suolala)” came along because her name is Lili - her parents hoped she’d grow up to be a builder. Normally, the story should’ve ended there. But after the naming event on Trends, the participant muper (who only won 1 SOL 😂) decided to share his prize with his supporters, and went even further - he created a builder-themed Avatar called “索拉拉”, inspired by Lily’s words. He said this character represents the entire Solana community, and that Lily was the creative prototype. And guess what - Lily replied again, saying: “This avatar is so cute, I’m making it my X PFP.” Then, unbelievably, just a few hours later, the official Solana account retweeted muper’s post - and simply wrote: “索拉拉.” That’s when the whole community truly caught fire. When Solana retweeted, I happened to be livestreaming with Soju. Right after the stream ended, I saw @aidashutiaozi shouting, “This is horrible!” (as in people were panic-selling). But then - the community consensus brought it all back, not only recovering but reaching 4M. Before going to bed, it dropped again, and I thought, “Okay, that’s probably the end.” But when I woke up, it was 3.3M again. The rest of the story - you’ve all seen it on the charts. I’m sharing this first-hand story to say this: There’s no such thing as “official endorsement” or “(anyone VIP) who supports it.” This was never a single-player game. Consensus is consensus. And the power of consensus can achieve incredible things. You can be 索拉拉. I can be 索拉拉. Anyone can be 索拉拉 - As long as you believe. As long as you dare to take the giant leap. As long as you fangshouyibo - keep building - and stay relevant on the table. 🎤🫳

Senior Bloomberg ETF analyst Eric Balchunas stated that there are currently 155 crypto ETP applications tracking 35 different digital assets, with the number expected to rise to 200 over the next 12 months. According to data charts, ETP applications related to Solana, Bitcoin,

Polymarket @polymarket fully integrates @solana