As of today, the Bitcoin price has continued its descent, reaching a low of $105,200. This marks the end of an impressive seven-year streak of positive performance in October, commonly referred to as “Uptober.”

Closing October with a decline of 4% — the first negative October performance since 2018 — the Bitcoin price is now facing heightened selling pressure due to tighter financial conditions, cautious institutional investment flows, and broader macroeconomic challenges.

This recent downturn follows a flash crash earlier in October that brought Bitcoin down to $104,000, erasing much of its momentum accumulated in the third quarter. Despite a partial recovery, Bitcoin remains approximately 14% below its most recent peak near $125,000.

At the time of this report, the Bitcoin price stands at $106,234.

Bitcoin Price Analysis

Technical analysis indicates that Bitcoin has tested three support levels recently, subsequently sweeping below them to capture liquidity.

On the daily chart, Bitcoin has held a significant low within a demand area, which has historically served as a robust support zone. This area has previously prompted a bounce, suggesting the potential for short-term support once again.

This price level has historically functioned as a dynamic support zone, serving as a foundation for accumulation and subsequent upward movements.

Maintaining a position above this threshold indicates that short-term participants are either at breakeven or experiencing slight profits, which supports general market confidence.

The STH Market Value to Realized Value (MVRV) Ratio further underscores potential upside. By applying historical MVRV thresholds to the current STH Realized Price, resistance levels are projected between $160,000 and $200,000, which aligns with patterns observed in previous market cycles.

Long-Term Holder (LTH) MVRV metrics corroborate this perspective, suggesting reduced margins but potential price peaks around $163,000 to $165,000.

Analysis of rolling MVRV frameworks, including two-year and 100-day evaluations, suggests that Bitcoin remains within an accumulation-friendly range, highlighting optimal entry points ahead of the anticipated next bullish phase.

Is Bitcoin Poised for $200,000 Soon?

Earlier today, Tom Lee of Fundstrat expressed continued optimism regarding Bitcoin, forecasting a potential ascent to $150,000 to $200,000 by the end of 2025, notwithstanding the recent market volatility.

He referenced a mid-October liquidation event — the largest in crypto history and surpassing that of FTX — which took place merely weeks ago.

Moreover, Strategy publicly announced its intensified Bitcoin accumulation strategy, having acquired 397 BTC for approximately $45.6 million at an average price of $114,771 each.

According to a November 3, 2025 SEC Form 8-K filing, Strategy now possesses a total of 641,205 BTC, with a cumulative purchase value of $47.49 billion and an average acquisition cost of $74,057 per BTC, including all associated fees and expenses.

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