Today in crypto, Bitcoin ended October at a 3.69% monthly decline, the first time in seven years. US Treasury Secretary Scott Bessent praised Singapore’s approach to digital asset regulation, and the Bitcoin white paper, published by Satoshi Nakamoto, turned 17 years old.
Bitcoin ends October in red, but now enters its biggest month for gains
Bitcoin has stepped into its historically most significant month for gains — November — with an average increase of 42.51% since 2013 — meaning Bitcoin could surpass $160,000 this month if history rhymes.
However, a crypto analyst noted that several macroeconomic factors are also at play.
“I do think seasonal charts matter a lot, but it has to be combined with a lot of other factors,” said crypto analyst Markus Thielen from 10x Research.
Looking ahead, there is an expectation that the US Fed will further lower interest rates, and the US and China are working on a trade deal; both developments could be favorable for Bitcoin.
However, the government shutdown and US tariffs continue to add to economic uncertainty.
Scott Bessent praises Singapore’s crypto adoption
US Treasury Secretary Scott Bessent has praised Singapore’s proactive approach to digital assets and stablecoin regulation, highlighting what he described as a model for effective and secure innovation in financial technology.
Speaking at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, Bessent met with Singapore Prime Minister Lawrence Wong to discuss financial cooperation and the future of digital finance.
According to reports, Bessent stated that the two discussed “increasing adoption and use of digital assets and US dollar stablecoins,” highlighting Singapore’s forward-looking regulatory regime.
Bessent also told APEC leaders that, through ongoing efforts to strengthen US industrial and technological capacity, the country is “seeing record levels of capital being invested into advanced manufacturing and technology sectors.”
The remarks reflect the Trump administration’s mandate to pursue sensible digital asset regulation while striking a balance between innovation and financial stability.
Bitcoin white paper turns 17 as first red October in 7 years looms for BTC
Bitcoin’s foundational document turned 17, marking the journey of the world’s first decentralized digital currency from a niche financial experiment to a $2 trillion global asset held by governments and institutions.
Bitcoin creator Satoshi Nakamoto first shared the Bitcoin white paper 17 years ago today, on Oct. 31, 2008, in response to the global financial crisis.
The document, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” described a decentralized, peer-to-peer network capable of preventing double-spending through proof-of-work (PoW) consensus.
Three months after the white paper was published, Nakamoto launched the world’s largest decentralized network by minting the first Bitcoin block, the genesis block, for a reward of 50 Bitcoin (BTC).
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