Bitcoin BTCUSD prices improved but remained under pressure in October, closing in the red in 17 out of 31 trading sessions.

On October 29, prices of the cryptocurrency took a hit after Binance disclosed a security breach that resulted in $6.3B in losses, with the industry pronouncing it the crypto’s biggest-ever hack. Shares of Bitcoin slumped 4.25% to close at $77K, slipping from the $80K mark it had maintained for the month.

Although prices are gradually improving, investors’ sentiment remains muted. Betting markets are seeing only a 3% chance of Bitcoin reaching a new record high this year.

Meanwhile, analysts at Wells Fargo noted that going forward, the cryptocurrency’s performance will depend less on supply reductions and more on…