Bitcoin was trading at around $108,445 on October 19, after a week marked by volatility. This represents its lowest level in months, driven by weak buyer demand and changing macroeconomic conditions. Analysts are cautioning that if these trends persist, the price may drop even further.
According to trader , market indicators are pointing to another decrease, with Bitcoin potentially falling to around $95,000 or even hitting $91,000 to stabilize. The comments show traders are becoming more cautious, and the sentiment is turning bearish.
Meanwhile, other players in the market anticipate a period of short-term price consolidation. Trader Daan Crypto Trades pointed out that Bitcoin could rebound by the end of the CME, potentially indicating that the cryptocurrency would stay around the area of $107,000 throughout the weekend. He cited $105,000 as a significant support area and said that further losses could be avoided with additional strengthening of the world equity markets.
The equity markets also closed positively at the end of the week, with the S&P 500 reaching 6,664, and they recovered half of their past losses. Analysts credited the recovery to comments made by US President, who indicated that new tariff increases on China might not be permanent, calming investors.