Bitcoin’s Next Move: Crisis or Cosmic Coin Flip? 🚀

by

Bitcoin, that enigmatic digital creature, may find itself in a rather unexciting slump unless it stumbles upon a new reason to make investors’ hearts race… or at least stop them from falling asleep. 🧠

“Without a renewed catalyst to lift prices back above $117.1k, the market risks deeper contraction toward the lower boundary of this range,” Glassnode said, sounding like a disgruntled wizard who’s seen too many spells go awry. 🧙‍♂️

Bitcoin (BTC) is trading at around 5% below the $117,000 level, trading at $110,840 at the time of publication. A mere 5%? How dare it not be at least 10%? 💸

“Historically, when price fails to hold this zone, it has often preceded prolonged mid- to long-term corrections,” Glassnode said, pointing out the increase in profit-taking among long-term holders in recent times, which may signal “demand exhaustion.” Or, as I like to call it, “the market’s version of a yawn.” 😴

Hyblock Capital CEO Shubh Varma told CryptoMoon that he expects a “relatively volatile month,” with potential upside ranging from $116,000 to $120,000. Volatile? That’s like saying the ocean is wet. But hey, at least he’s not predicting a 100% drop. Yet. 🌊

Sideways price action is “likely outcome” after a crash

However, Varma said that while “consolidation is the likely outcome” for Bitcoin following a significant market crash, several indicators still point to potential positive momentum for the cryptocurrency. Or as I like to call it, “the market’s way of saying, ‘Maybe we’ll go up, maybe we’ll go down, maybe we’ll just sit here and wait for a better idea.’” 🤷‍♂️

“ETFs inflows remain quite high, and spot volume seems healthy,” Hyblock said. Before the wider crypto market crash on Friday, which saw Bitcoin briefly fall to $102,000, US-based spot Bitcoin ETFs had recorded a nine-day inflow streak, amounting to $5.96 billion in inflows. A nine-day streak? That’s longer than my attention span. But hey, at least it’s not a 100-day streak. Or is it? 💸

Another potential bullish catalyst is the prospect of continued rate cuts from the US Federal Reserve. Rate cuts are typically viewed as bullish for riskier assets, such as cryptocurrencies, as they prompt investors to shift away from traditional investments like bonds and term deposits, which become less attractive in a lower interest rate environment. Because nothing says “investor confidence” like lower interest rates. It’s like giving the market a cup of coffee and hoping it wakes up and starts investing. ☕️

According to the CME FedWatch Tool, markets are pricing in about a 95.7% chance of another rate cut at the Fed’s Oct. 29 meeting. That’s more certain than my morning coffee. But then again, maybe it’s just the market’s way of saying, “We’re not sure, but let’s bet on it anyway.” ☕️

Other indicators suggest “increasingly constructive” rest of the year

21Shares crypto research strategist Matt Mena said that with the recent liquidations, policy easing approaching, and structural demand accelerating, the setup into year-end appears “increasingly constructive for digital assets.” Or, as I like to call it, “the market’s way of saying, ‘Let’s pretend we know what we’re doing.’” 📈

Mena said Bitcoin is setting up for a potential move toward $150,000 “as macro tailwinds and institutional flows continue to align.” Because nothing says “constructive” like a 50% increase from where it is now. Or maybe it’s just the market’s way of saying, “Let’s dream big.”

Meanwhile, other analysts are predicting higher values by year-end. BitMEX co-founder Arthur Hayes and Unchained market research director Joe Burnett are forecasting a price of $250,000 by the end of 2025. Because why settle for a 50% increase when you can dream big? It’s like saying the moon is made of cheese, but with more math. 🌕

Read More

2025-10-16 09:22