Key Market Movements
Bitcoin (BTC) experienced a fresh decline, reaching new weekly lows and testing the bottom of its local range around $107,000. This downward pressure occurred as stock markets failed to rally despite macroeconomic factors. Traders who had bet on an upward trend faced significant losses, with long liquidations approaching $1 billion within a 24-hour period.
Market Influences and Trader Sentiment
The price action followed a 0.25% interest-rate cut by the US Federal Reserve. While this was anticipated as a potential catalyst, market sentiment was also influenced by the uncertain outcome of trade negotiations between the US and China. President Donald Trump indicated progress after a meeting with China's Xi Jinping, stating, "We agreed on many things, with others, even of high importance, being very close to resolved."
$BTC Another test of $107K. Still in the range as we speak. All levels to watch from low to high: 🔸$103K (Wick low). 🔸$107K Local range low & support. 🔸$111K Mid range & high volume node. 🔸$116K Range high & resistance. We're just playing ping pong between those levels. One… https://t.co/obzd3PYwzf pic.twitter.com/XsxoGxHzqR
— Daan Crypto Trades (@DaanCrypto) October 30, 2025
In contrast to Bitcoin's struggles, gold prices saw an increase, climbing back above $4,000 per ounce. The S&P 500 and Nasdaq Composite Index both opened lower on the day.
The significant volume of liquidations, exceeding $1.1 billion in 24 hours according to CoinGlass, highlighted the volatility and the unwinding of leveraged positions in the crypto market.
Divergent Market Outlooks
Market participants offered varied perspectives on the future trajectory of Bitcoin. Some traders, like CrypNuevo, viewed the current price action as typical behavior following Federal Reserve meetings. CrypNuevo suggested that the market was retracing imbalances created earlier and that Bitcoin had filled a weekend gap in the CME Group's Bitcoin futures market.
Conversely, other traders expressed greater concern. Roman warned that if the stock market experiences a reversal or correction, Bitcoin could see a significant drop of 20-30%. This outlook is based on the observation that Bitcoin has been trading sideways while stocks have shown substantial gains, indicating a potential lack of underlying strength in BTC.
So when the $SPX finally has some sort of retrace/correction, my guess is $BTC drops by a solid margin. Maybe 20-30%. $BTC has been moving sideways while stocks have been going straight up 40%+. The lack of strength is very evident. It’s coming folks. https://t.co/bLL0fyqSkR pic.twitter.com/wYfTCN8m3l
— Roman (@Roman_Trading) October 30, 2025
CoinGlass data indicated that October 2025 was on track to be Bitcoin's first red October since 2018, a stark contrast to the historical average gain of 20% for the month since 2013.
