Bitcoin

Gold

would

<p><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>’s recent price decline signals increased volatility amid ongoing concerns over US banking stability. As traditional financial tremors resurface, cryptocurrency markets experience sharp dips, with <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> falling to levels not seen since June. Meanwhile, notable voices in the financial world continue to debate Bitcoin’s long-term prospects, especially in comparison to gold’s recent rally. This dynamic underscores the complex relationship between traditional assets and the evolving crypto landscape amid macroeconomic uncertainty.</p>
<div class="key-takeaways">
 <ul>
  <li>Bitcoin crashes to 15-week lows, amid fears of US regional bank crises and financial turmoil.</li>
  <li>Market analysts warn of a possible retracement below $100,000, with some predicting a move toward $98,000.</li>
  <li>Gold reaches new all-time highs, with some experts claiming it will surpass Bitcoin and hit $1 million per ounce.</li>
 </ul>
</div>
<p>Bitcoin (<a target="_blank" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) declined sharply on Friday, touching lows not seen in over four months as concerns over US regional banks reignited fears of a broader financial crisis. 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> showed Bitcoin dropping below $106,000 for the first time since June. This decline came amid turbulence in US regional banking stocks, reminiscent of the March banking turmoil that shook markets earlier this year. <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>’s flash crash first pushed the price near $20,000 before rebounding.</p>
<h2 id="bitcoin-risks-going-straight-to-98-000-next">Bitcoin risks “going straight to $98,000” next</h2>
<p>Market analysts warn that if Bitcoin fails to hold key support levels, notably close to $100,000, it could slide further toward $98,000. The <a target="_blank" href="https://x.com/KobeissiLetter/status/1978897984340529322" rel="noopener noreferrer nofollow">Kobeissi Letter</a> cautioned that the recent dip, which pushed <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> to around $102,000 on <a rel="noopener noreferrer nofollow" target="_blank" href="https://binance.pxf.io/P0PnDj?refcode=20181193">Binance</a> amid US-China trade tensions, might be a sign of more downside. Traders are monitoring whether Bitcoin will fill the wick of last week’s candle or break through critical daily moving averages, including the 50-week and 200-day MAs.</p>
<p>Earlier, Bitcoin broke below support levels at the 50-day MA, touching the 200-day MA for the first time in over half a year. Economist and crypto investor Ted Pillows noted, “$BTC has lost the $108,000 support level. Now, support is minimal until $101,000-$102,000,” emphasizing the vulnerability of Bitcoin’s recent decline.</p>
<blockquote>
 <p>“If Bitcoin manages to reclaim the $110,000 level from here, we could see a bounce back. Otherwise, expect more pain before relief.”</p>
</blockquote>
<h2 id="gold-s-rally-and-bitcoin-s-long-term-outlook">Gold’s rally and Bitcoin’s long-term outlook</h2>
<p>The turmoil in banking stocks has also spurred a significant rally in gold (<a target="_blank" href="https://cointelegraph.com/news/120k-or-end-of-bull-market-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow"><em>$120K or end of bull market? 5 things to know in Bitcoin</em></a>), which touched fresh all-time highs into the close. Among gold skeptics, Peter Schiff, chairman of Europac, predicted that gold would reach $1 million per ounce before Bitcoin.</p>
<blockquote class="twitter-tweet">
 <p>Gold is more likely to hit $1 million than Bitcoin.</p>
 <p>— Peter Schiff (@PeterSchiff) <a target="_blank" href="https://twitter.com/PeterSchiff/status/1978967429377122677?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 16, 2025</a></p>
</blockquote>
<p>Schiff argued that the recent banking distress is part of a broader “de-dollarization and de-bitcoinization” trend, claiming that Bitcoin has failed as a digital alternative to gold or the dollar. However, some traders believe that a rotation out of gold and into Bitcoin might occur as market conditions evolve.</p>
<p>Crypto trader Jelle noted that profits could soon flow from gold into Bitcoin, highlighting the potential for Bitcoin to “catch up” with gold over the long term. A chart displayed Bitcoin’s historical phases of leading and aligning with gold’s market moves, reflecting potential future trajectories for the flagship cryptocurrency.</p>
<p>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making financial decisions.</p>
<p>This article was originally published as <a href="https://www.cryptobreaking.com/bitcoin-imitators-shake-up-2023/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Bitcoin Imitators Shake Up 2023 Regional Banks as BTC Price Plummets to $105K</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.</p>

Bitcoin Imitators Shake Up 2023 Regional Banks as BTC Price Plummets to $105K

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