BTC Battles Key Technical Levels as Uptober Momentum Fades
Bitcoin is trading below $108,000, struggling during "Uptober" as it tests critical moving averages for support and resistance.Summary
Bitcoin (BTC) is currently struggling during October, historically a strong month often called "Uptober," trading down over 5% and below $108,000 as it approaches crucial technical levels. The 200-day Simple Moving Average (200SMA) at $107,846 is acting as immediate resistance, a level BTC has struggled to hold consistently this cycle. If this fails, the 365-day SMA at $100,367 serves as secondary support, placing BTC in a familiar range-bound setup between these two averages. Key support floors include the $103,509 average cost basis for 2025 investors and the psychological $100,000 mark. On the upside, $112,100 represents the short-term cost basis; sustained trading above this suggests a bull market resumption. The price drop also coincided with over $320 million in liquidations across the market and a $40.4 million net outflow from U.S. spot bitcoin ETFs.
(Source：CoinDesk)