Trader

bullish

Bitcoin

when

<a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A67747_TClick_Scb-bitcoin.aspx?TargetURL=https://www.etoro.com/markets/btc">Bitcoin</a> and the broader cryptocurrency market are experiencing intense volatility following the largest liquidation event in crypto history. As traders grapple with record-breaking losses, <a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A67747_TClick_Scb-bitcoin.aspx?TargetURL=https://www.etoro.com/markets/btc">Bitcoin</a> struggles to recover from steep declines, with speculative targets like $100,000 increasingly within reach amid widespread sell-offs. These tumultuous conditions signal a potential market correction, as traders and analysts interpret recent price actions and liquidations as a sign of a broader market "cleanse."
<div class="key-takeaways">
 <ul>
 <li>Bitcoin and altcoins face historic liquidations, with over $20 billion wiped out in 24 hours.</li>
 <li><a rel="noopener noreferrer nofollow" target="_blank" href="https://med.etoro.com/B10215_A67747_TClick_Scb-bitcoin.aspx?TargetURL=https://www.etoro.com/markets/btc">BTC</a> struggles to rebound from three-week lows, with some analysts predicting further declines toward $100,000.</li>
 <li>The recent turmoil marks the beginning of a market “cleansing,” as euphoric bull-market sentiment evaporates.</li>
 </ul>
</div>
Bitcoin (<a target="_blank" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) faltered beneath the key support level of $110,000 on Saturday as the crypto market endured the aftermath of a record $20 billion liquidation event. The fallout highlights the fragility of recent bullish momentum amid a surge in market pressures.
<h2 id="trader-sees-start-of-crypto-cleanse">Trader sees start of “crypto cleanse”</h2>
Market data from <a target="_blank" href="https://subscription.cointelegraph.com/?_gl=1*enpnlb*_ga*MTE3NDE3MjgzMC4xNzE1NjcwODE1*_ga_53R24TEEB1*MTc0NDcyNDI2NS40MS4xLjE3NDQ3MjQyNjkuNTYuMC45MTY3MzAwMzI." rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and <a target="_blank" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP" rel="noopener noreferrer nofollow">TradingView</a> reveals BTC/USD trading struggles after falling to recent three-week lows on <a rel="noopener noreferrer nofollow" target="_blank" href="https://sovrn.co/e6vth2q">Bitstamp</a>, with traders cautious ahead of potential further downside moves.
Amid rising fears over the ongoing US-China trade tensions, risk assets felt the pinch. The S&amp;P 500 index declined by 2.7% on Friday, while gold prices surged past $4,000 per ounce, showcasing a classic risk-off environment that smothered crypto market enthusiasm.
<figure><img alt="" src="https://www.cryptobreaking.com/wp-content/uploads/2025/10/0199d266-87ee-737c-8efd-15e661aa0a98.png" title="">
 <figcaption style="text-align: center">XAU/USD one-hour chart. Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://sovrn.co/1h8llaz">Cointelegraph</a>/<a rel="noopener noreferrer nofollow" target="_blank" href="https://www.tradingview.com/?aff_id=115702&amp;aff_sub=cryptobreaking">TradingView</a>
 </figcaption>
</figure>
Bitcoin’s Relative Strength Index (RSI) fell into deeply oversold territory, with the four-hour RSI reaching levels not seen since early February’s trade war anxieties. This indicates a market under extreme stress, although some traders see potential for a bounce, while others suggest more downside lies ahead.
<figure><img alt="" src="https://www.cryptobreaking.com/wp-content/uploads/2025/10/0199d26c-9ffb-7d96-a495-ba5461bd8bda.png" title="">
 <figcaption style="text-align: center">BTC/USD one-day chart with four-hour RSI. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
Market analyst Skew notes that short positions are gradually decreasing, with some passive buying activity emerging via <a rel="noopener noreferrer nofollow" target="_blank" href="https://sovrn.co/bwqjd9p">Coinbase</a>, though liquidity remains sparse and spreads wide. This suggests traders are assessing the damage before liquidity fully returns, leading to potential volatility spikes.
<blockquote>
 “Some passive buying ongoing mostly via <a rel="noopener noreferrer nofollow" target="_blank" href="https://sovrn.co/bwqjd9p">Coinbase</a> spot (bit of a Coinbase premium atm too). Spreads across the board are still super wide, MMs probably assessing damage before liquidity returns much later.”
</blockquote>
Another trader, Roman, has expressed caution, warning that the recent strength in the bull market may be fleeting. He warns that the market is in the early stages of a “crypto cleanse,” citing the proliferation of over 30 million altcoins, many of which are scam projects, and noting Bitcoin’s 700% increase from its macro bottom as evidence of an overdue correction.
<figure><img alt="" src="https://www.cryptobreaking.com/wp-content/uploads/2025/10/0199d265-61ce-764f-8570-e157469f6119.png" title="">
 <figcaption style="text-align: center">Total altcoin market cap (without top 10) one-week chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="liquidations-likely-much-higher-than-20-billion">Liquidations “likely much higher” than $20 billion</h2>
Market participants who bet heavily on the continued rise of cryptocurrencies suffered unprecedented losses. According to data from <a target="_blank" href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a>, 24-hour liquidations neared $20 billion, predominantly from long positions, underscoring the scale of recent market turmoil.
“The actual total is likely much higher — <a rel="noopener noreferrer nofollow" target="_blank" href="https://binance.pxf.io/P0PnDj?refcode=20181193">Binance</a> only reports one liquidation order per second,” CoinGlass noted on social media. Liquidity across order books is severely challenged, with resistance levels stacked around $120,000 and minimal support to halt the potential slide toward $100,000.
<figure><img alt="" src="https://www.cryptobreaking.com/wp-content/uploads/2025/10/0199d267-a9c6-7272-ba4d-59894958ca52.png" title="">
 <figcaption style="text-align: center">Crypto liquidation heatmap. Source: CoinGlass
 </figcaption>
</figure>
Earlier projections suggested Bitcoin could revisit lows around $108,000, with some analysts framing the recent price action as a form of “ping pong,” characterized by rapid swings and volatility. Such dynamics underscore the uncertain outlook for the near-term crypto market.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article was originally published as <a href="https://www.cryptobreaking.com/warning-bitcoin-and-altcoins-face/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Warning: Bitcoin and Altcoins Face Further Drop in Latest Crypto Price Forecast</a> on <a href="https://www.cryptobreaking.com/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Breaking News</a> – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Warning: Bitcoin and Altcoins Face Further Drop in Latest Crypto Price Forecast

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