{"id":90080,"date":"2025-10-21T10:34:52","date_gmt":"2025-10-21T07:34:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90080"},"modified":"2025-10-21T10:37:54","modified_gmt":"2025-10-21T07:37:54","slug":"bitcoin-slips-below-108000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-slips-below-108000\/","title":{"rendered":"Bitcoin slips below $108,000"},"content":{"rendered":"

The price of the leading cryptocurrency fell below $108,000. The drop came amid macroeconomic risks, chiefly trade tensions between the US and China.<\/p>\n

\"BTCUSDT_2025-10-21_10-00-21\"
Daily BTC\/USDT chart on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

Over the past 24 hours, bitcoin has lost 3.2% and is trading around ~$108,000. On 20 October the asset briefly rose<\/a> above $111,000.<\/p>\n

In the view<\/a> of BTSE chief operating officer Jeff May, volatility will persist. He linked it to trade tensions between the US and China. May believes the latest decline was driven by traders cutting risk ahead of a meeting between the countries\u2019 leaders.<\/p>\n

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\u201cEven if they reach an agreement, it is unlikely that the tensions will disappear completely,\u201d he added.<\/em><\/p>\n<\/blockquote>\n

Pressure spread to altcoins as well. Ethereum fell 4.8%, BNB 6%, and Solana 4.5%.<\/p>\n

Spot crypto ETFs<\/a> also recorded outflows. According to SoSoValue, $40.47 million was withdrawn from bitcoin funds<\/a>, and $145.68 million from Ethereum-based instruments<\/a>.<\/p>\n

The Fear & Greed Index fell to 34.<\/p>\n

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Source: Alternative<\/a>.<\/figcaption><\/figure>\n

Traders now await the release of the consumer price index. The inflation print could influence the US Federal Reserve\u2019s rate decision. According to the CME FedWatch tool, the probability of a 25-basis-point cut is 98.9%.<\/p>\n

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Source: CME FedWatch<\/a>.<\/figcaption><\/figure>\n

Liquidations<\/h2>\n

At the time of writing, total liquidations amounted to $322.59 million.<\/p>\n

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Source: CoinGlass<\/a>.<\/figcaption><\/figure>\n

By comparison, the 11 October market plunge led to $19 billion of positions being liquidated<\/a>. However, the episode showed that the digital-asset ecosystem can withstand shocks, said<\/a> TD Cowen analysts.<\/p>\n

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\u201cAlthough the recent episode caused financial hardship for many investors, we are struck by how well the underlying ecosystem functioned,\u201d the experts wrote.<\/em><\/p>\n<\/blockquote>\n

They stressed this was the largest one-day liquidation on record, yet most crypto exchanges operated with minimal disruption.<\/p>\n

By their estimates, lesser-known tokens were \u201cwiped out\u201d, whereas bitcoin and Ethereum held their ground. For instance, the \u201cdigital gold\u201d briefly fell to -15% at the lows but ended the day down only 8%.<\/p>\n

TD Cowen analysts remain positive on the first cryptocurrency. They forecast bitcoin\u2019s price will reach $141,000 by December.<\/p>\n

Beyond market resilience, the experts noted ongoing global adoption of bitcoin. As an example, they cited Japan, where the number of registered digital-asset accounts has quadrupled to 7.9 million.<\/p>\n

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\u201cThis growth prompted the country\u2019s Financial Services Agency to reconsider the long-standing ban on banks investing in digital assets such as bitcoin,\u201d the analysts concluded.<\/em><\/p>\n<\/blockquote>\n

Crypto winter<\/h2>\n

Analyst Willy Woo believes the next crypto bear market will differ from previous ones. In his view, it will be defined by a downturn in the business cycle, which the industry has not yet faced.<\/p>\n

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We had two 4y cycles superimposed<\/p>\n

Now it’s only one; global M2 liquidity<\/p>\n

Next bear IMO will be defined by another cycle people forget about \u2192 the business cycle<\/p>\n

The last biz cycle downturns that really took hold was 2008 and 2001, from before crypto markets were invented pic.twitter.com\/inHqQH7zWx<\/a><\/p>\n

\u2014 Willy Woo (@woonomic) October 20, 2025<\/a><\/p><\/blockquote>\n