After a volatile week in the cryptocurrency markets, Bitcoin rebounded strongly above $111,000, fueled by renewed optimism from macroeconomic and geopolitical developments. Altcoins like Ethereum and Solana also showed encouraging signs of recovery, supported by growing institutional confidence and technical indicators pointing to potential trend reversals. Despite these gains, analysts warn that bears may still test higher resistance levels as traders weigh the broader impact of upcoming economic events and policy shifts.
Key Takeaways
- •Bitcoin rallied past $111,000 following renewed optimism around U.S.–China trade discussions.
- •Institutional sentiment toward Bitcoin remains largely positive, despite concerns of a late bull-cycle stage.
- •Altcoins such as Ethereum, Solana, and BNB are showing technical setups suggesting possible rebounds.
- •Market analysts expect resistance at key moving averages before confirming a full recovery trend.
Key points:
- •Bitcoin and most major altcoins have bounced off their support levels, indicating solid demand at lower levels.
- •Buyers may find it difficult to sustain the recovery, as the bears are expected to sell on rallies.
Bitcoin (BTC) made a strong comeback on Monday, rising above $111,000. Traders turned bullish after U.S. President Donald Trump confirmed a summit with Chinese President Xi Jinping on Oct. 31, sparking hopes of a potential trade agreement between the two nations.
Despite the recent correction, institutional appetite for cryptocurrency remains resilient. A Coinbase survey of 124 institutional investors revealed that 67% are optimistic about Bitcoin’s performance over the next three to six months, though 45% believe the market is approaching the latter stages of its bull run.
Technical analyst John Bollinger noted that Ethereum (ETH) and Solana (SOL) are forming “W” bottom patterns, often signaling a potential bullish reversal. Bitcoin, however, has yet to confirm a similar setup. According to Bollinger, traders should “pay attention soon,” as volatility may trigger significant moves.
Could Bitcoin and leading altcoins sustain this recovery, or will higher levels attract renewed selling pressure? Here’s an analysis of the top crypto assets and broader market indicators.
Market Analysis
S&P 500 Index Price Prediction
Buyers halted the S&P 500 Index (SPX) pullback near the 50-day simple moving average (6,570), showing strong buying interest on dips.
If bulls push the index above its all-time high of 6,764, it could target the psychological 7,000 level. Conversely, a drop below the 50-day SMA could trigger a deeper correction toward 6,350 or 6,200.
US Dollar Index Price Prediction
The U.S. Dollar Index (DXY) is seeing intense competition between bulls and bears near its downtrend line. Sellers briefly pushed prices below it, but buyers defended the 50-day SMA at 98.03. A breakout above the trend line could lift the index toward 100.50, while a failure might send it back to 97.46 or 97.19.
Cryptocurrency Market Analysis
Bitcoin Price Prediction
Bitcoin’s rebound from the $107,000 support indicates strong buying pressure. The next challenge lies at the moving averages, where bears are expected to resist. A breakout above these levels could open the path toward retesting the all-time high at $126,199. Failure to hold $107,000 could expose BTC to further downside near $100,000.
Ether Price Prediction
Ethereum’s rebound from its channel support suggests that bulls are defending key levels. If buyers clear resistance at the moving averages, ETH could rally toward $4,957. A close below the channel support, however, may trigger a drop to $3,354.
BNB Price Prediction
BNB recovered from its 50-day SMA ($1,032), reflecting solid buying momentum. A break above $1,135 could lead to $1,198 or $1,239, while a drop below $1,021 may signal short-term weakness.
XRP, Solana, Dogecoin, Cardano, and Hyperliquid
XRP, SOL, DOGE, ADA, and HYPE all show signs of accumulation at lower levels. Solana and Cardano are forming potential reversal patterns, while XRP and Dogecoin remain range-bound. Hyperliquid’s rebound from $35.50 highlights strong demand, though the asset faces resistance near the 20-day EMA.