Bitcoin starts $100K ‘capitulation’ as BTC price metric sees big volatility

💡 DMK Insight

Bitcoin’s recent 4% drop in October isn’t just a blip; it signals potential volatility ahead. With ETF outflows contributing to this decline, traders should be wary of the implications for liquidity and market sentiment. The fact that Bollinger Bands are indicating record levels of volatility suggests that price swings could become more pronounced in the near term. This could create opportunities for day traders looking to capitalize on short-term movements, but it also raises the risk for swing traders who might get caught in larger price corrections. Keep an eye on key support levels around $105,000, as a breach could trigger further selling pressure. Conversely, if Bitcoin can reclaim the $115,000 mark, it might signal a reversal and attract bullish momentum. Watch for any news related to ETF approvals or regulatory changes, as these could significantly impact market dynamics.