Bitcoin is trading near $106,030, having rebounded from a weekend retest of the $99,000 support zone.
The market remains cautious and range-bound, with macro uncertainty and institutional positioning playing a key role in near-term action.

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Bitcoin Next Target

• Price: $106,030
• Circulating Supply: 19.9 million BTC ($105,884.00)
• Max / Total Supply: 21 million BTC
• Market Cap & Volume:$2trillion, $70billion

After price made a new ATH ($0.03) of $126k, it crashed four days later (flash crash on Oct 10th) as low as $102K. It’s now also broken below $107K support and 200 SMA, which could signal a bearish trend reversal to Downtrend.

The next robust support is around $100K – $102K, which was the low point of the recent flash crash on Oct 10th.

It’s trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for such a breakout, ideally above $110K (200 SMA), with +10% potential upside to $120K (PT1) or $125K (PT2) thereafter. Long-term, we believe that the FED is likely to continue to cut interest rates in the next 3 months by 50 bps or more, which should be bullish for BTC and altcoins.

Key Indicators & Market Signals

• Strong support was found around $99,000, and reclaiming above $105,000–$106,000 is important for bullish structure.
• Resistance lies near $110,000–$112,000; a clean break above could open a potential move toward $120,000+.
• The rebound followed heavy deleveraging and large-scale liquidations, leaving Bitcoin in a reset phase with potential upside once conditions stabilize.
• Macro factors such as interest-rate expectations, regulatory clarity, and institutional flows remain dominant influences.

Latest News Highlights

• Analysts at one major bank argued that following major deleveraging, Bitcoin now has significant upside potential and is more attractive than gold on a volatility-adjusted basis.
• Over the weekend, BTC retraced toward the ~$99,000 support level before rebounding, underscoring the importance of that floor for market structure.
• Sentiment remains cautious, with many traders awaiting clearer macro signals before committing to new long positions.

Summary

Bitcoin sits near $106,030, held above critical support around $99,000 and testing resistance near $110,000–$112,000. A strong breakout above resistance could propel price toward $120,000+, while a failure to hold support may open downside toward $95,000–$100,000.

With institutional interest still present but macro risks elevated, BTC appears to be in a consolidation phase ahead of its next directional move.

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