"Bitcoin price has sharply reversed course after reaching a record high above $126,000 just two weeks ago - and the downturn isn't letting up. The price has now slipped into the $104,000 range, extending a multi-day decline that's driven market sentiment to its most cautious level in months. Currently, the bitcoin price is is $105,485, but the price was as low as $103,516 in early morning trading on some exchanges."
"Last Friday, on October 10, Bitcoin and the broader crypto market witnessed a drastic and sharp sell-off as President Trump announced sweeping 100% tariffs and export controls in response to China's new restrictions on nearly all products starting November 1, 2025. The news triggered a sharp crypto sell-off, with Bitcoin briefly down 12% and other major cryptocurrencies falling as much as 40%. Now, bitcoin is near the low price of the sell-off with much of the broader crypto market following suit."
"Bitcoin price fell below $105,000 for the first time since June, fueling fears of a deeper correction as traders braced for potential declines into the $90,000s or even $80,000s. Technical indicators showed momentum weakening: Bitcoin's Relative Strength Index dipped to 37, while the Average Directional Index barely confirmed a downtrend at 25.23. On shorter timeframes, the sell pressure intensified, with the RSI at 32.7 and the ADX climbing above 34, signaling strong bearish momentum."
Bitcoin reversed sharply from a record high above $126,000 to the $104,000 range, with prices as low as $103,516 on some exchanges and currently around $105,485. The Bitcoin Fear & Greed Index reads 22/100, placing sentiment in 'Extreme Fear.' A major sell-off on October 10 followed President Trump's announcement of 100% tariffs and export controls in response to China's product restrictions, driving Bitcoin briefly down 12% and other cryptocurrencies up to 40% lower. Technical indicators show weakening momentum, with RSI and ADX readings and a 'death cross' pattern implying elevated downside risk toward the $90,000s or $80,000s.
Read at Bitcoin Magazine
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