Bitcoin's price fell from $110,000 to $107,000 at the start of the month, driven by continued sell-offs from early holders, marking the first 'Red October' since 2018, according to QCP Capital. Despite stable leverage and funding rates, Bitcoin managed to absorb over 400,000 coins in sell pressure, maintaining its position above $100,000. QCP Capital suggests this could either be a calm before a new rally or the onset of a crypto winter.