Bitcoin starts $100K ‘capitulation’ as BTC price metric sees big volatility
Bitcoin experienced its worst October since 2018, with ETF outflows and cautious traders suggesting a potential $100K capitulation, while volatility metrics signal a major price move is imminent.Summary
Bitcoin concluded October with a 3.7% loss, marking its worst performance for the month since 2018, as traders grew cautious despite macro tailwinds like the Federal Reserve's interest rate cut, which was overshadowed by a hawkish outlook for December. Institutional demand showed weakness, evidenced by significant spot Bitcoin ETF outflows totaling $191 million on Friday and $488 million on Thursday, according to Farside Investors. Crypto investor Ted Pillows suggested that Bitcoin is undergoing "time-based capitulation," warning that a weekly close below $100,000 would confirm a downtrend, though some traders await a decisive break above $116,000 or below $107,000 for momentum. Furthermore, technical indicators like the Bollinger Bands suggest that Bitcoin's price volatility is set to increase significantly, as the monthly bands have reached historically extreme levels, indicating that a major price swing is likely approaching.
(Source：Cointelegraph)