BITCOIN/ ALTCOINS RECOVERY

Bitcoin recently suffered its worst weekly drop since March, falling nearly 9% and briefly dipping below the $100,000 mark, placing it about 20% below its all-time high and officially entering bear market territory. The primary cause behind this sharp decline is extensive selling by long-term holders, or "whales," with over 1 million Bitcoin liquidated since June 30—more than 400,000 of which occurred in the past month alone. This wave of selling triggered significant deleveraging and broke key technical support levels, notably on October 10. According to 10X Research, if Bitcoin fails to hold the $93,000 support, it could plunge into the $70,000 range due to a lack of buying interest—an "air pocket." Adding to concerns is Bitcoin’s historically poor October performance, which in past cycles (like 2018) has often foreshadowed further losses in November.

Despite the near-term bearish outlook, analysts maintain a longer-term bullish perspective, citing several potential catalysts that could revive the market. These include a possible Federal Reserve interest rate cut in December, leadership changes at the Fed, the reopening of the U.S. government (which would improve liquidity), and supportive crypto-related legislation. Meanwhile, the broader cryptocurrency ecosystem—including Ethereum and Solana—has also seen red across the board, signaling a broader shift away from the risk-on sentiment that characterized the summer months. Overall, while current conditions are challenging, the video presents a balanced view that acknowledges short-term risks while keeping an eye on macroeconomic and policy-driven opportunities for recovery.

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