Important Highlights:
Bitcoin has made a fresh dip, revisiting the lower end of its local range following the Federal Reserve’s interest-rate cut.
Traders who were betting on price increases faced setbacks, with long liquidations approaching $1 billion.
A more significant decline in stock prices could lead to a 30% drop in BTC value.
Bitcoin (BTC) experienced new weekly lows at the opening of Wall Street on Thursday, as stock markets disregarded macroeconomic factors.
BTC Price Tests $107,000 Range Floor
According to data from Cointelegraph Markets Pro and TradingView, BTC price action dipped close to $107,000.
This level represents the bottom of the local range for BTC/USD, making it crucial for bulls to protect.
$BTC Another test of $107K. Still in the range as we speak.
All levels to watch from low to high:
🔸$103K (Wick low).
🔸$107K Local range low & support.
🔸$111K Mid range & high volume node.
🔸$116K Range high & resistance.We’re just playing ping pong between those levels. One… https://t.co/obzd3PYwzf pic.twitter.com/XsxoGxHzqR
— Daan Crypto Trades (@DaanCrypto) October 30, 2025
The cryptocurrency market followed the US stock markets in declining after the recent 0.25% interest-rate cut by the Federal Reserve.
The anticipated macro catalyst of the week, a trade agreement between the US and China aimed at avoiding steep tariffs from Nov. 1, seemed uncertain despite optimistic remarks from President Donald Trump.
In a post on Truth Social after meeting with China’s Xi Jinping, Trump stated that the two “agreed on many things.”
“I had a truly great meeting with President Xi of China. There is enormous respect between our two countries, and that will only be enhanced with what just took place,” the post read.
“We agreed on many things, with others, even of high importance, being very close to resolved.”
The S&P 500 and Nasdaq Composite Index both opened lower, while gold regained momentum, rising above $4,000 per ounce.
The struggle of cryptocurrencies was marked by significant liquidations as traders’ macro bets fell apart. Data from monitoring service CoinGlass indicated that 24-hour liquidations surpassed $1.1 billion at the time of writing.
Bitcoin Trader Predicts Stocks Reversal “Coming”
Related: Bitcoin spot volume surpasses $300B in October as traders indicate ‘healthy’ pivot
Some traders, including CrypNuevo, observed Bitcoin reflecting its “usual” behavior around Fed rate meetings.
“Nothing to worry about in terms of market structure or trend – price is now retracing the new imbalances created this evening,” he informed his X followers.
CrypNuevo also noted that the price had filled its latest weekend “gap” in CME Group’s Bitcoin futures market.
On the other hand, opinions were far less optimistic. Trader Roman cautioned that as BTC/USD struggled to align with stocks even during upward trends, a trend reversal could trigger another price drop.
So when the $SPX finally experiences a correction, I anticipate $BTC to drop significantly. Perhaps by 20-30%.$BTC has been moving sideways as stocks surged over 40%. The lack of strength is very apparent.
It’s coming folks. https://t.co/bLL0fyqSkR pic.twitter.com/wYfTCN8m3l
— Roman (@Roman_Trading) October 30, 2025
CoinGlass confirmed that October 2025 has turned “red” for Bitcoin for the first time since 2018, with only one trading day left to potentially turn things around.
As previously reported by Cointelegraph, the average gain in October since 2013 has been 20%.
This article does not provide investment advice or recommendations. Every investment and trading decision involves risk, and readers should perform their own research before making choices.
