**Crypto Market Sentiment Shifts in October**

The much-anticipated "Uptober" for crypto has hit a snag as markets retreat. Onchain analytics firm Santiment noted a sharp decline in "Uptober" mentions on social media, with traders turning bearish. Memes of "Selltober" and "Octobear" are now trending.

Santiment's founder, Maksim Balashevich, suggests this dip could pave the way for a short-term bounce, though the larger downtrend's end remains uncertain.

Veteran trader "Ash Crypto" predicts BTC might drop further before a significant pump, while 10x Research analysts point to early adopters' sell-offs and large token unlocks driving prices down.

Historically, October has been bullish for Bitcoin, but this year, BTC has already lost around 4.7% from its October high.