Key points:
Bitcoin faces potential new lows in October as sellers reclaim control, pausing BTC price discovery.
Key targets include local range lows around $108,000 amid bearish divergences.
Market strength is waning with daily losses nearing 3%.
Bitcoin (BTC) approached weekly lows following Thursday’s Wall Street opening, as sellers prevented bulls from engaging in price discovery.
Bitcoin “likely” to give way to shorts next
Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD dipping below $120,000.
Down nearly 3% for the day, the pair continued to navigate through bid liquidity on exchange order books.
“The market still shows bid liquidity around $121K-$120K, but we need to see a seller absorption to avoid a sweep lower,” trader Skew noted in his latest market commentary on X.
Skew further mentioned that the market is “likely to be dominated by new shorts opening” in the near term.
Trading resource Material Indicators employed proprietary trading tools to emphasize repeated tests of nearby support.
“Currently, we are undergoing a 3rd consecutive Daily support test at the trend line,” it summarized alongside an accompanying chart.
“A break of the trend line would lead to a support test at the Q4 Timescape Level around $114k.”
Data from CoinGlass indicated a lack of bid support below the $120,000 level at the time of writing, while asks increased overhead.
BTC price weakness sees $108,000 return to radar
Trader Roman reiterated the precarious situation of Bitcoin despite its recent all-time highs when considering longer timeframes.
Related: BTC October price breakout odds low: 5 things to know in Bitcoin this week
“A reminder that we are once again witnessing more bearish divergences, low volume, and lack of momentum on HTF. Both 1W and 1M,” he told X followers.
$BTC 1W
A reminder that we are once again seeing more bearish divergences, low volume, and lack of momentum on HTF. Both 1W and 1M.
We perfectly predicted the move from 107-124k, and now I anticipate a drop, possibly to 108k again.
I don’t perceive strength here. pic.twitter.com/pdEfp535eG
— Roman (@Roman_Trading) October 9, 2025
Roman projected that local range lows at $108,000 might come into play once more, which is already on the radar for October.
Earlier, Cointelegraph shared a separate analysis that forecast a bullish BTC price breakout occurring only after October.
This article does not serve as investment advice or recommendations. Every investment and trading decision entails risk, and readers should conduct their own research before deciding.
