Bitcoin has damaged down the psychological assist degree of $110K, shedding greater than 2.5% of worth at this time and 10% this week. It has deviated from the parallel motion to the Gold, which achieved its all-time excessive market cap of $30 trillion.

Crypto market consultants are divided about Bitcoin’s subsequent transfer, making retail buyers skeptical about its Uptober rally. At current, BTC is buying and selling for $107K, with a market capitalization of $2.15 trillion.

Why is Bitcoin Down Right this moment? Prime Causes

The downtrend of Bitcoin is especially pushed by profit-taking momentum, whale liquidation, geopolitical points, and weak technicals. Let’s take a better look.

• Gold’s journey into document market capitalization of $30 trillion has deterred conventional buyers from getting into the Bitcoin market. 
• 140 BTC lengthy place was closed by a whale, persevering with the profit-taking momentum and likewise igniting panic available in the market.
• The U.S. Shutdown has entered its third week, and tariff-driven tensions between the U.S. and China are on the rise, considerably affecting your complete market.
• Bitcoin broke its technical assist of $110,500 and psychological assist of $110K.

Market Consultants Break up on Bitcoin’s Subsequent Transfer 

Crypto market forecasters are deeply divided about Bitcoin’s subsequent actions, sparking public debates on social media, notably on X (previously Twitter). Peter Schiff, the famend monetary commentator and American stockbroker, has criticized Bitcoin maximalists framing Bitcoin as a superior asset to Gold, and acknowledged that Gold is extra prone to hit $1 million than Bitcoin. “Gold is consuming Bitcoin’s lunch. Bitcoin is now down 32% priced in gold since its August excessive. This Bitcoin bear market will probably be brutal. HODLers, promote your idiot’s gold now and purchase the actual factor, or have enjoyable going broke,” he tweeted.

Gold is consuming Bitcoin’s lunch. Bitcoin is now down 32% priced in gold since its August excessive. This Bitcoin bear market will probably be brutal. HODLers, promote your idiot’s gold now and purchase the actual factor, or have enjoyable going broke.

— Peter Schiff (@PeterSchiff) October 16, 2025

Binance’s Changpeng “CZ” Zhao replied to Peter Schiff sarcastically by saying that he may have listened to Schiff two months in the past, out of the 16 years in Bitcoin’s existence. “I’m positive bitcoin fluctuated negatively in opposition to gold greater than that, besides BTC went from $0.004 to $110,000 USD in 16 years,” he added.

Peter revenge. 👏

We must always have listened to him, two months in the past, out of the 16 years in bitcoin’s existence. About 1% of the time.

I’m positive bitcoin fluctuated negatively in opposition to gold greater than that, besides BTC went from $0.004 to $110,000 USD in 16 years. https://t.co/c7IiygbOer

— CZ 🔶 BNB (@cz_binance) October 16, 2025

Other than the Gold vs Bitcoin debate, market observers are divided in regards to the ETF momentum of Bitcoin, with numerous analysts calling it a bubble whereas others count on the ETF rally to proceed. The ETF information recommend bullish momentum, following yesterday’s mixed internet influx of $340 million for BTC and ETH, which marks a change in market sentiment from Monday’s $755 million outflow.

Bitcoin Market State of affairs Right this moment: Bearish & Excessive Concern

• Concern & Greed Index: 22 (Excessive Concern) 
• Market Sentiment: Bearish
• Provide Inflation: 0.87% (Low)
• Dominance: 58.80% 
• Volatility: 3.96% (Medium)

Bitcoin’s Concern & Greed Index is at excessive worry, making it a extremely dangerous funding in the meanwhile. The general bearish market sentiment and the medium volatility will detach each retail buyers and whales from the asset at this time. The Fibonacci assist ranges are 109,014 (S1), 106,490 (S2), and 102,403 (S3), and the resistance ranges are 117,188 (R1), 119,712 (R2), and 123,799 (R3). 

The place is Bitcoin Headed To? BTC Value Evaluation

Regardless of the short-term detrimental traits and criticisms from numerous market observers, Bitcoin will possible proceed its bullish pattern in the long term. The optimism is supported by the optimistic ETF momentum and the anticipated Uptober rally. Nonetheless, Bitcoin will proceed its bearishness at this time and tomorrow, as a result of weak technicals, geopolitical tensions, U.S. shutdown, and different macroeconomic points.

When you plan to commerce at this time, attempt to do most analysis on the Bitcoin market by delving into the newest information surrounding it, opinions from consultants, and historic information. At all times do your personal analysis earlier than finalizing your entry or exit.