Altcoin Daily Says Bitcoin Could Fall to $103k

Altcoin Daily estimates Bitcoin could drop to $103,000, coinciding with the 50-week moving average. On October 30, retail Bitcoin traders displayed significant fear, reaching levels not seen since the October 20 crash. Data shows trading activity surged, with a 60.5% increase over the weekly average, while long-term holders sold 325,600 BTC. The current trading range lies between $107,000 to $108,000, with potential support at $97,000, as noted by analyst Omkar Godbole. If Bitcoin breaks below $107,400, downside targets may extend toward $102,000 to $104,000. However, reclaiming resistance above $111,650 could lead to targets near $115,800 to $117,500. Bitcoin's price oscillated just above $107,000, indicating market participants are reassessing positions amidst mixed flows. Overall, analysts suggest caution as the market environment remains uncertain with potential downward pressures looming.

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