Bitcoin (BTC) price drops in early October, can it bounce back?

Updated

October 10, 2025

Gambar Bitcoin (BTC) price drops in early October, can it bounce back?

Jakarta, Pintu News – Bitcoin has recently experienced a decline after peaking at $126,198. Currently, the cryptocurrency is under pressure, trading around $122,200. The big question at hand is whether Bitcoin (BTC) can gather momentum to rally back or if it will continue to slide.

Bitcoin (BTC) Market Dynamics

Bitcoin (BTC) had an impressive performance by breaking through the $125,000 zone, reaching a new high of $126,198. However, not long after, the price experienced a sharp correction, dropping below the $123,000 support zone and even reaching $120,500. Although there was a small recovery above the 50% Fibonacci retracement level of the last drop, the challenge of returning to the previous peak is still enormous.

Also Read: Trump’s Secret Plan May Push Bitcoin (BTC) to $250,000!

Recent Technical Analysis

In technical analysis, Bitcoin (BTC) is now below the 100-hour simple moving average, indicating selling pressure. There is a bullish trend line forming with support at $122,200 on the hourly chart of the BTC/USD pair. However, the immediate resistance is at $123,450, with the next key resistance at $124,000, which coincides with the 61.8% Fibonacci retracement level.

If Bitcoin (BTC) manages to break the $124,850 resistance, there is a possibility of further gains towards $125,500 and possibly reaching $126,000. However, this all depends on the market’s ability to maintain the current bullish momentum.

Potential Price Drop

If Bitcoin (BTC) fails to break through the $124,000 resistance zone, there is a chance that the currency will see a further decline. Immediate support is at $122,000, with the next major support at $121,200.

If the selling pressure continues, Bitcoin (BTC) could fall to the $120,500 zone, and if this negative trend continues, critical support at $116,800 will come into focus. A drop below this level could be extremely detrimental, forcing Bitcoin (BTC) to fight hard in the short term to recover its position.

Conclusion: Bitcoin (BTC) Outlook Going Forward

With the current market conditions, investors and traders should pay attention to technical indicators and key support levels. The decision to buy or sell should be based on a careful analysis of price trends and trading volumes. Although the future of Bitcoin (BTC) is fraught with uncertainty, a deep understanding of market dynamics can help in making informed investment decisions.

Also Read: 5 Robert Kiyosaki Predictions: USD Crashes & Crypto is Bought, Bitcoin Price Breaks Rp2 Billion!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.