Bitcoin Holds Near $63,000 Amid Mixed Market Signals
BTC is trading in a tight range around $63,000 after a volatile week marked by ETF flows, geopolitical headlines, and the Coldcard incident.
💎 ETHEREUM IS RECOVERING — BUT IS IT ENOUGH?
Ethereum has joined Bitcoin's rebound, with ETH trading around $2,370 in market coverage published on October 28.
But price action alone doesn't tell the whole story.
🔍 Three things ETH investors should watch:
1️⃣ Network activity: Are users and applications generating sustainable demand?
2️⃣ Scaling: Can Ethereum's ecosystem improve transaction costs and user experience?
3️⃣ Market momentum: Can ETH hold support and break through nearby resistance?
Ethereum remains an important part of decentralized finance, stablecoins and tokenized assets. However, strong technology doesn't guarantee short-term price appreciation.
📌 The key question is whether this recovery develops into a sustained trend or fades as traders take profits.
💬 Are you bullish on ETH for the long term, or do you prefer Bitcoin?
#Ethereum #ETH #DeFi #Altcoins #CryptoAnalysis
Many people are angry because they don’t know how to manage their emotions and, above all, their money.
Trading is very different from what you might imagine. If you don’t learn to control both, the market will make you pay the price. $BTC
Bitcoin dominance is at a decision point.
Break above 61.5% and Bitcoin keeps leading. Alts stay weak.
Break below 58% and money starts rotating into ETH and alts.
ETH has done well these last 4 months, but that only continues if dominance starts falling from 61%.
$TAO As you can see, it’s been rejected … but the more times it crashes into it, the easier it will be to break through the resistance; it’ll take a bit of time
🚨BULLISH: Binance records its BIGGEST single-day Bitcoin net outflow since 2023, with over 13,800 BTC leaving the exchange, per CryptoQuant.
Binance holds around 30% of BTC on platforms accessible to investors.
Its reserves dropped by 20,000 BTC in just FOUR DAYS, from 705,000 to 685,000 BTC.
The withdrawals suggest more investors are moving BTC into self-custody, a pattern associated with long-term holding and reduced potential selling pressure.
They also suggest latecomers who were waiting for lower prices could now be feeling FOMO.
BITCOIN WEEKLY ANALYSIS
Bitcoin pumped 4% last week and closed at $84,445, its highest weekly close in 8 months and second consecutive close above the Weekly MA 50.
So how did Bitcoin go from $57K to $87K?
BTC spent 11 weeks testing the Weekly MA 200 and it held as support. During that time, MACD turned bullish, RSI showed a bullish divergence and momentum started shifting toward bulls.
Then BTC broke above $67K and spent the next 4 weeks testing the Weekly MA 50, while $75K held as support.
Once Bitcoin finally closed above the Weekly MA 50, another short squeeze pushed BTC above $86K.
Meanwhile, the macro data was also improving:
- ISM hit 55.6, a 4 year high.
- Russell 2000 broke to a new ATH.
- Core inflation cooled toward a 5 year low.
Important levels:
- Support: Weekly MA 50 at $77,670 | Daily MA 200 at $71,100
- Resistance: $87K to $98K
Important events this week:
- ISM: Thursday
- Jobs data: Friday
$SUI is starting to look interesting again.
Gasless stablecoin transfers now work at the protocol level, and confidential transfers are coming this month, keeping amounts private while settlement stays verifiable.
At the same time, SUI has broken out of a 9-month downtrend.
IMO, some consolidation here would be healthy before another move higher, with $1.50 being the level I’m watching next.
The plan for $BTC hasn’t changed.
I still believe BTC will form a higher low before making its next leg towards 90K. However, that move may not begin directly from the current wick.
Typically, after the market makes a strong move upwards, it consolidates, establishes a range and builds liquidity. Then, once it is genuinely ready for continuation, price capitulates significantly below the range lows before reversing higher.
We saw a similar structure in 2023: BTC rallied from 16K to 24K, retraced towards 19K, and then continued towards 30K. That final capitulation marked the higher low before the next major leg.
This is why I believe it may still be too early for BTC to move directly towards 90K. The current low could hold, but it may not be the final low of this range. We could continue ranging for longer before seeing the true capitulation wick, potentially into the low 70Ks, that marks the bottom before continuation.
Another common strategy is to deviate above the range highs first, lure traders into longs and build confidence, before aggressively reversing towards the lows. We saw that exact sequence in 2023. Could it happen again? We will have to wait and see.
It is a textbook liquidity cycle: build the range, lure traders into positions, make them comfortable, liquidate them, and then begin the real move higher.
My current view is that BTC may not yet be ready for the push towards 90K. That increases the likelihood of the range holding for longer, with the true capitulation wick occurring only when the market is genuinely ready for expansion.
🚨 NOW: Foreign holdings of US Treasuries dropped $50.4 billion in July to $9.25 trillion, their lowest level since October, driven by sell-offs from France and Canada.
BREAKING: 🇺🇸 The Fed just hiked interest rates by 25 BPS, its first hike since July 2023.
Another 25 BPS hike is projected this year.
Fed Chair Kevin Warsh is speaking now.