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After worst ‘Uptober’ Bitcoin now likely to crash to $87,000, warns expert

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Bitcoin’s (BTC) bullish ‘Uptober’ reputation was shattered this year after the cryptocurrency ended October with a nearly 4% loss, marking its worst October performance since 2014. Now, according to cryptocurrency analyst and TradingView contributor TradingShot, the weak monthly close may signal the start of a deeper correction, potentially sending Bitcoin toward the $87,000 region in the weeks ahead. Bitcoin price analysis chart. Source: Finbold The analyst pointed to a fractal pattern mirroring Bitcoin’s price action between December 2024 and February 2025. During that period, BTC rejected a descending trendline, lost its higher-lows support structure, and ultimately fell roughly 32% from its all-time high.  The recent move, marked by a rejection at the 1-day 50-day moving average (MA), resistance on a descending highs trendline, and stalling at the 0.5 Fibonacci retracement, closely resembles that earlier setup. Notably, since mid-August, Bitcoin has made ...
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Bitcoin Price Prediction: BTC’s Seven-Year ‘Uptober’ Streak Shattered By Macro Jitters, ETF Outflows

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The Bitcoin price tumbled 4% in October, breaking its seven-year ‘Uptober’ streak as ETF outflows, profit-taking, and macro jitters weighed on the market. An Analysis by Fortune showed it was Bitcoin’s fourth-worst October performance since 2013 and the worst in the past seven years. That left BTC trailing the S&P 500 stock index, which rose 2.3%. The sell-off came as more than $550 million flowed out of major Bitcoin and Ethereum ETFs late in the month, with analysts saying profit-taking also played a part as Bitcoin treasury firms, including Michael Saylor’s Strategy, also slowed their BTC buying. We just experienced the first red October in 7 years! We also had an historic liquidation in October! UPTOBER was a fraud, but MOONVEMBER?? imho; if you can, DCA more! if you can’t, DO NOT panic sell your bags for cheap! If you are out of $$ and you are sure of your port,… pic.twitter.com/LH7aYTwQeY — Blockchain Bob (@blockchainbob) ...
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Analyst sets timeline for Bitcoin’s ‘capitulation event’ that’s due next

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A cryptocurrency trading expert has suggested that the ongoing Bitcoin (BTC) sell-off will likely escalate in the coming weeks, noting that the asset is facing a possible capitulation event . In a TradingView post on August 3, analyst Alan Santana noted that this projection is based on a detailed examination of historical price movements and critical technical indicators, which forewarn investors of significant market turbulence ahead. According to the expert, Bitcoin surged past $70,000 on July 29, 2024, but the euphoria was short-lived. The cryptocurrency couldn’t sustain this price level for even 15 minutes, swiftly falling below the mark and trading below $65,000. This rapid descent indicates overwhelming selling pressure at this price point. Picks for you ChatGPT-4o predicts Cardano (ADA) price for August 31, 2024 ...
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Bitcoin Price Prediction: As MicroStrategy Turns ”Extremely Optimistic” On BTC, Traders Rush To Buy 99BTC With Only Days Left

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The Bitcoin price dropped a fraction in the last 24 hours to trade at $64,463 as of 03:44 a.m. EST on trading volume that surged 9% to $39 billion. This comes as MicroStrategy says it’s “extremely optimistic” about Bitcoin adoption amid increasing ”bipartisan” political support for the crypto industry in the US. “On the adoption front, we are extremely optimistic with the improved understanding of bitcoin and the increasing support for the ecosystem from bipartisan politicians and institutions on display at the Bitcoin 2024 Conference in Nashville,” said MicroStrategy in a press release in connection with its second-quarter earnings. Although MicroStrategy reported a Q2 loss of $180.1 million on its BTC holdings, the firm still holds 226,500 tokens worth about $14.4 billion.  Bitcoin Price Aims For A Sustained Rally The Bitcoin price has been in a sustained rally from July 12 to July 31, surging from the $57,000 support to as high as...
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Most Trending Cryptos on Ethereum Chain Today – Cellframe Token, Ethena USDe, Neiro on ETH

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Bitcoin post-halving predictions are currently being tested by market realities as the third quarter of the year enters the second month. Investors had high hopes for a mega rally after the halving event, which was reinforced by the arrival of the BTC ETF. However, the BTC price has been forced into a range amidst an uneventful global economic outlook. Notwithstanding the performance of BTC and ETH, the Ethereum network sports some tokens with exceptional price action in the last 24 hours. Today’s post covers the top trending cryptocurrencies on the Ethereum chain and offers an overview of the price data of each token.  Most Trending Cryptos on Ethereum Chain Today Also, the crypto market is witnessing the rebirth of presale cryptos as the market awaits the next obvious direction and trend. The presale offering of the 99Bitcoins token is one of the most popular programs in the category. This post offers an overview of the 99Bitcoins presale as the platform hopes to round...
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Why are Tether and Cantor Fitzgerald lending near identical amounts?

At Bitcoin 2024 in Nashville, Cantor Fitzgerald, Tether’s custodian for United States treasuries, announced a new lending business which will allow people to get leverage on their bitcoin. Cantor Fitzgerald chief exec Howard Lutnick reportedly stated that it is “going to launch with $2 billion in lending .”  The announcement noted that Cantor Fitzgerald “partner with select bitcoin custodians” to launch this new business line.  Lutnick also noted that the firm owns a “shitload” of bitcoin . Protos has reached out to Cantor Fitzgerald to determine who it has partnered with for this new business line, but at press, it has not responded. Tether’s loans In December 2022, Tether announced its intention to “reduce secured loans in Tether’s reserves to zero.” Despite this, Tether still has secured loans, but it now considers them ‘excess reserves’ and states they “won’t have any impact on the to...
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