Bitcoin fell below $111,000, is it a short correction or the beginning of a doomed future?

Nakamoto 2025-10-30 21:39 62187人围观 BTC

↓Want to get rich? Want to get your blood back? Want to eat meat? Scan the QR code below to take your card to the main Shenglang ↓ The recent Bitcoin market has been miserable, with the price falling all the way, directly falling below 111,000 US dollars

↓Want to get rich suddenly? Want to get your blood back? Want to eat meat? Scan the QR code below to take your card to Shenglang↓

The recent Bitcoin market has been miserable, with the price falling all the way and falling directly below $111,000 on Thursday. Behind this is the crazy "attribution" of negative factors from both macro and market aspects.

The Federal Reserve's hawkish attitude has become the "culprit" for the decline in Bitcoin prices. At the October meeting, although Powell cut interest rates by 25 basis points, he clearly poured cold water on expectations of another interest rate cut in December. As soon as this signal comes out, the U.S. dollar is likely to rise, and Bitcoin and the U.S. dollar have always had a "seesaw" relationship. When the U.S. dollar strengthens, Bitcoin can only fall obediently. In the past three days, the price of Bitcoin has dropped from $110,021 on Wednesday to $107,925 on Thursday, which is the best proof.

The U.S. government is in its fourth week of shutdown, and Congress is still deadlocked on an appropriation bill. As soon as the government went on strike, the economic outlook became unclear and investors lost their minds. As a risky asset, Bitcoin has naturally become an "abandoned" asset at this time. Everyone is worried that if they invest money in it, it will be wasted, and the price will plummet.

There is good news in terms of Sino-US trade. Trump announced that China will resume purchasing US soybeans, and the rare earth issue has also been resolved. It is said that this can boost market sentiment and make the price of Bitcoin jump up. But the reality is that the economic situation is unclear and traders are very cautious. This good news is like a stone sinking in the sea, causing no waves at all. The price of Bitcoin should fall or fall.

Institutional investors have always been the "main force" in the Bitcoin market, but recently they have begun to "retreat." In early trading on Wednesday, spot Bitcoin ETF capital outflows reached as high as $470.71 million. This was the first large outflow after four consecutive days of capital inflows since October 23, and the highest level since October 16. Once institutional funds run away, market confidence will be further hit, and the momentum of Bitcoin price correction will be even more difficult to stop.

Looking at technical indicators, Bitcoin prices are also facing significant downward pressure. Prices encountered resistance near $115,137 on Monday, failing to break through the 78.6% Fibonacci retracement level. It fell another 4% on Wednesday, falling directly below the uptrend line support. On the daily chart, the Relative Strength Index (RSI) fell to 44, below the neutral level of 50, indicating that the power of bears is increasing. The lines of the Moving Average Convergence/Divergence Index (MACD) are also moving closer, the green histogram is falling, and the bullish momentum is obviously weakening.

If Bitcoin continues to fall, it is likely to fall to the 61.8% Fibonacci retracement level of $106,453. Although there is still the possibility of an increase if it can rebound and stand above the 50-day moving average of $113,093, but given the current situation, I think it is really difficult for Bitcoin to stop falling and rebound. Investors still need to be more cautious and not blindly follow the trend.