Bitcoin remains range-bound near the $107,000 level following the Federal Reserve's hawkish stance, with total liquidations now exceeding $1 billion.
Notable Statistics:
- Coinglass data shows 307,714 traders were liquidated in the past 24 hours for $1.19 billion.
- In the past 24 hours, top losers include Dash, Plasma and Zcash.
Notable Developments:
- Bitcoin, Ethereum, Solana, XRP Crater 5% As Traders Warn Of More Downside
- MSTR Stock Eyes $260 Support As Strategy Adds 397 Bitcoin
- Grayscale Pushes Crypto ETFs Forward With First U.S. Solana-Staking ETP
- MARA Holdings Q3 Earnings: What Analysts Are Expecting And Key Technical Signals To Watch
Trader Notes: Daan Crypto Trades observed that Bitcoin has cleared much of the liquidity between $105,000 and $106,000, leaving limited key zones on lower timeframes.
The next notable levels are the $102,000–$103,000 area from the Oct. 10 wick, the $107,000 region that once served as strong support and is now being retested, and a liquidity cluster extending up to $112,000.
Kevin highlighted that Bitcoin has been consolidating for 17 weeks within the $98,000–$106,800–$125,000 range, with the weekly bearish divergence identified near $120,000–$125,000 in August still playing out.
This extended correction represents a typical consolidation phase, and holding structural support remains crucial. A decisive break in either direction could spark a surge in volatility and a much sharper move.
Altcoin Sherpa believes Bitcoin could eventually revisit the CME gap around $92,000, though the timing remains uncertain.
Nebraskangooner noted that Bitcoin's chart currently appears weak, with $102,000 serving as critical support. A breakdown below this level could lead to a deeper decline toward $85,000 or lower.
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