Bitcoin worth has sharply reversed course after reaching a file excessive above $126,000 simply two weeks in the past — and the downturn isn’t letting up. The value has now slipped into the $104,000 vary, extending a multi-day decline that’s pushed market sentiment to its most cautious degree in months.
At present, the bitcoin worth is is $105,485, however the worth was as little as $103,516 in early morning buying and selling on some exchanges.
In accordance with the Bitcoin Concern & Greed Index, sentiment now stands at 22/100, marking a shift into the ‘Excessive Concern’ class. The index, which ranges from 0 (excessive concern) to 100 (excessive greed), is broadly seen as a gauge of investor psychology and potential market turning factors.
Final Friday, on October 10, Bitcoin and the broader crypto market witnessed a drastic and sharp sell-off as President Trump introduced sweeping 100% tariffs and export controls in response to China’s new restrictions on practically all merchandise beginning November 1, 2025.
The information triggered a pointy crypto sell-off, with Bitcoin briefly down 12% and different main cryptocurrencies falling as a lot as 40%.
Now, bitcoin is close to the low worth of the sell-off with a lot of the broader crypto market following go well with.
Is Bitcoin going decrease?
Bitcoin worth fell under $105,000 for the primary time since June, fueling fears of a deeper correction as merchants braced for potential declines into the $90,000s and even $80,000s.
Technical indicators confirmed momentum weakening: Bitcoin’s Relative Energy Index dipped to 37, whereas the Common Directional Index barely confirmed a downtrend at 25.23.
On shorter timeframes, the promote strain intensified, with the RSI at 32.7 and the ADX climbing above 34, signaling sturdy bearish momentum. Charts additionally revealed a “demise cross” sample — a technical sign typically related to prolonged downturns.
Relating to the Bitcoin Concern & Greed Index, durations of “excessive concern” typically coincide with oversold circumstances, as merchants retreat from threat and liquidity tightens. Traditionally, such phases have generally preceded native bottoms, although timing stays unsure amid broader market volatility.
The sell-off comes as macro uncertainty weighs on threat belongings globally. Bitcoin’s decline mirrors weak spot in equities and commodities, as buyers brace for renewed geopolitical tensions and cautious financial coverage commentary later this week.
Simply two weeks in the past, when Bitcoin traded above $124,000, the index learn 70, signaling ‘greed’ and highlighting how sharply sentiment has reversed.
In the meantime, gold has surged to recent all-time highs above $4,350 per ounce, extending its outperformance in opposition to Bitcoin up to now this yr.
