‘Bitcoin’s Going Lower’: Experts Fearful as $100,000 on a Knife Edge

Core Insights - Bitcoin experienced a significant price drop of 3.69% in October, marking its first negative October in seven years and only the third loss since 2013 [1][2] - Market sentiment is currently negative, with comparisons being drawn to the 2018 downturn, where Bitcoin lost 3.8% in October followed by a 36.6% plunge in November [2] - Bitcoin is now technically in a bear market, having fallen 20% from its recent all-time high, leading to concerns about a prolonged downturn and the potential exit of institutional investors [3][4] Market Performance - Cumulative outflows from Bitcoin ETFs have exceeded $1 billion since October 29, indicating significant selling pressure [4] - Year-to-date returns for Bitcoin stand at only 8%, lagging behind gold and the S&P 500, which have returns of 52% and 15% respectively [5] - A critical price level for Bitcoin is identified at $100,000, with warnings that a drop below $95,000 could result in Bitcoin's first negative year since 2022 [4][5]