Bitcoin Risks Slide to $72K After $100K Support Break
Bitcoin price fell below the critical $100,000 support level, triggering bearish sentiment and raising the risk of a further slide to $72,000 within one to two months, according to CryptoQuant research head Julio Moreno. A record $20 billion-plus liquidation on October 11 weakened market demand. Spot Bitcoin ETF inflows have slowed and the US Coinbase premium has turned negative. CryptoQuant’s Bull Score Index sits at 20, signaling extreme bearish sentiment. Technical indicators are also negative: Bitcoin price has dropped under its 50-week and 100-week moving averages, with weekly RSI showing bearish divergence. Macro headwinds—Fed rate pause expectations, trade tensions, credit tightening and high equity valuations—are fueling ETF outflows and reducing demand for new coins. Traders should watch key support levels, ETF flows, exchange reserves and on-chain metrics. Effective risk management via staggered entries, stop-loss orders and controlled leverage is advised.
Bearish
The news points to a bearish outlook for Bitcoin. Breaking the $100,000 support level and the record $20 billion liquidation event have weakened demand, while the Bull Score Index at 20 confirms extreme bearish sentiment. Technical indicators, including breaks below the 50-week and 100-week moving averages and weekly RSI bearish divergence, suggest further downside pressure in the short term. Inflows into spot Bitcoin ETFs are slowing, and the US Coinbase premium has turned negative, reflecting reduced institutional and retail demand. Macro headwinds—such as expected Fed rate pauses, global trade tensions and credit tightening—are exacerbating outflows. Traders should anticipate increased volatility and potential extended declines toward $72,000. In the long term, looser Fed policy and ongoing institutional infrastructure development could restore risk appetite, but the immediate impact on Bitcoin price remains decidedly bearish.