Bitcoin's Shaky Support: What's Next for BTC?

Key Points

• Bitcoin's price is under threat, with analysts watching the $107,000 to $108,000 range.
• $1.23 billion outflow from Bitcoin ETFs between October 13 and 17.
• Institutional investors not buying the dip as usual.
• Price volatility: Briefly hit over $113,000 before dropping back to $108,864.
• Analysts warn of potential longer consolidation if ETF inflows don't recover.
• Predictions vary: Some expect a comeback to $250,000, while others remain cautious.
• Worst-case scenario: Bitcoin should still hold above $100,000 this year.

Market Sentiment

Despite the recent downturn, some major crypto figures believe Bitcoin will recover before year-end. However, others caution that such a recovery would require extraordinary circumstances.

For now, the market is in a waiting game to see if support levels can hold.