Highlights:
Bitcoin retraces to the lower end of its local range following the recent Federal Reserve interest-rate cut.
Traders betting on price increases face losses, with long liquidations approaching $1 billion.
A significant downturn for stocks could result in a 30% drop in BTC prices.
Bitcoin (BTC) hit new weekly lows as Wall Street opened on Thursday, despite the supportive macro factors.
BTC price tests $107,000 support level
Data from Cointelegraph Markets Pro and TradingView indicated that BTC prices fell close to $107,000.
This level serves as the bottom of the local range for BTC/USD, making it crucial for bullish traders to defend.
$BTC Testing $107K again. Still within the range currently.
Key levels to monitor from low to high:
🔸$103K (Wick low).
🔸$107K Local range low & support.
🔸$111K Mid range & high volume area.
🔸$116K Range high & resistance.We’re currently bouncing between these levels. One… https://t.co/obzd3PYwzf pic.twitter.com/XsxoGxHzqR
— Daan Crypto Trades (@DaanCrypto) October 30, 2025
The cryptocurrency market experienced a downturn in tandem with U.S. stock indices following a 0.25% interest-rate reduction by the Federal Reserve.
The anticipated macro catalyst for the week, a trade agreement between the U.S. and China aimed at avoiding heavy tariffs starting Nov. 1, remained uncertain despite optimistic statements from U.S. President Donald Trump.
In a post on Truth Social after a meeting with Chinese President Xi Jinping, Trump mentioned that the two leaders had “concurred on several matters.”
“I had a very productive meeting with President Xi of China. There is tremendous respect between our two nations, and this will only be strengthened by our discussions,” the post read.
“We reached consensus on numerous issues, with others, even of considerable significance, very close to resolution.”
The S&P 500 and Nasdaq Composite Index both opened lower for the day, while gold rebounded, crossing above $4,000 per ounce.
High liquidation levels marked the challenges facing the crypto market as traders’ macro strategies faltered. Data from CoinGlass revealed that 24-hour liquidations surpassed $1.1 billion at the time of writing.
Bitcoin trader cautions of impending stock reversal
Related: Bitcoin spot trading exceeds $300B in October as traders exhibit a ‘healthy’ shift
Some, like trader CrypNuevo, believed Bitcoin was displaying its usual reactions around Federal Reserve rate meetings.
“There’s nothing to be concerned about regarding market structure or trends – price is merely correcting the recent imbalances observed this evening,” he stated to his followers on X.
CrypNuevo pointed out that Bitcoin’s price had filled its recent weekend “gap” in CME Group’s futures market.
Conversely, some traders were more concerned. Roman warned that if BTC/USD continues to diverge from stock trends, a trend reversal could trigger a significant price drop.
When the $SPX eventually experiences a correction, I predict $BTC will drop substantially. Perhaps by 20-30%. BTC has maintained a sideways position while stocks surged over 40%. The weakness is quite apparent.
It’s on the horizon, folks. https://t.co/bLL0fyqSkR pic.twitter.com/wYfTCN8m3l
— Roman (@Roman_Trading) October 30, 2025
CoinGlass verified that October has turned out “red” for Bitcoin for the first time since 2018, with just one trading day remaining to amend the situation.
As Cointelegraph previously reported, the average October gain since 2013 has been 20%.
This article is not intended as investment advice or recommendations. Each investment and trading decision carries risk, and readers are encouraged to perform their own research.
