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Bitcoin Plunges Below Critical 200-Day Average as Dollar Surges

Bitcoin (BTC) has recently fallen below its important 200-day simple moving average (SMA) of $109,380, indicating potential weakness as the dollar index (DXY) rises to its highest point since August 1. This decline may trigger further selling, potentially pushing BTC towards $100,000 or lower. The dollar's strength is attributed to hawkish comments from Federal Reserve Chair Jerome Powell downplaying a potential rate hike along with the Bank of Japan's dovish policies, which have weakened the yen. The poor performance of Bitcoin is notable, especially following the announcement of improved U.S.-China trade relations, including significant tariff reductions. Despite this positive news, there was no accompanying surge in crypto prices, reflecting a lack of underlying demand. Other cryptocurrencies, like XRP, are facing challenges, with XRP nearing a 'death cross' while Solana shows weakness despite a recent spot ETF announcement. Concerns also linger regarding sustained selling pressure across the cryptocurrency market.

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Myriad Moves: Bitcoin Odds Flip Bearish as Traders Expect Longest US Gov Shutdown in History

Bitcoin's market has turned bearish as traders anticipate the longest government shutdown in U.S. history. Currently priced around $107,659, Bitcoin saw a 3.5% decline over 24 hours, contributing to market uncertainties that have led to a significant shift in predictions. Predictions for Bitcoin's

Myriad Moves: Bitcoin Odds Flip Bearish as Traders Expect Longest US Gov Shutdown in History

The current economic climate has shaken crypto traders, as Bitcoin's price has fallen around 4% to approximately $107,659. Predictions for Bitcoin's next price movement have shifted from bullish to bearish, with market sentiment indicating a 43% chance of it reaching $120,000, down from earlier

Myriad Moves: Bitcoin Odds Flip Bearish as Traders Expect Longest US Gov Shutdown in History

In the context of rising uncertainty in the cryptocurrency market, traders are adjusting their predictions regarding Bitcoin's price movements. As of late October 2025, the odds for Bitcoin reaching $120,000 have dropped to 43%, a significant decrease from 75% earlier in the week. Recently, Bitcoin traded at

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