Bitcoin Updates Today: Optimism Surrounding Bitcoin ETFs Contrasts With Warnings of a Potential 70% Downturn

In October 2025, Bitcoin slipped below $114,000, prompting a range of responses from investors as the market fluctuated between institutional enthusiasm and bearish technical patterns. The drop, which put

12% under its record high of $126,080, occurred alongside notable blockchain transactions by major entities such as SpaceX and . Meanwhile, ETF inflows and regulatory shifts added further layers to the situation, as highlighted by .

SpaceX, the aerospace firm led by Elon Musk, transferred $133 million worth of Bitcoin between wallets in late October, according to blockchain intelligence provider

. These movements included 300 BTC (about $33 million) and 915 BTC (roughly $100.7 million), marking the third such transfer within a week. Previously, SpaceX was reported to have held around 25,724 BTC in early 2021, though the company is said to have written down $373 million in Bitcoin during 2021–2022. At the same time, Tesla—another Musk company—continued to hold 11,509 BTC, valued at over $1.27 billion, making it just outside the top ten public firms with Bitcoin exposure. Tesla’s earlier decision to sell 75% of its Bitcoin in 2022 for $936 million demonstrated its careful stance toward crypto market swings.

Institutional interest in Bitcoin intensified as spot ETFs attracted $90.6 million in fresh investments on October 24 (UTC+8), breaking a five-day streak of outflows. BlackRock’s IBIT and Fidelity’s FBTC led the way, drawing $32.68 million and $57.92 million, respectively. This surge lifted Bitcoin to $111,633 (UTC+8), its highest in a week, while ETF assets under management climbed to $149.96 billion—representing 6.78% of Bitcoin’s total market value, according to

. This institutional momentum contrasted with ETFs, which saw $243.9 million withdrawn, suggesting a shift in capital toward Bitcoin’s “digital gold” status.

Yet, technical signals raised concerns about the rally’s durability. A bearish MACD (Moving Average Convergence/Divergence) crossover on the monthly chart sparked fears of a possible 70% pullback. Analyst Ali Martinez pointed out that Bitcoin had previously fallen by 70% on four occasions when this indicator turned negative, including the 2021–2022 drop to $16,000 (UTC+8). If history repeats, a similar decline from current prices could bring Bitcoin down to $33,000 (UTC+8), according to

. On-chain insights from CryptoQuant painted a more detailed picture, revealing that large investors—referred to as the “Dolphin cohort”—controlled 26% of Bitcoin’s supply and continued to accumulate, though at a slower rate than in previous bull runs, as noted by .

Regulatory and broader economic factors added further uncertainty. The U.S. Securities and Exchange Commission (SEC) was reviewing 155 crypto ETF proposals, while easing inflation and expected interest rate cuts from the Federal Reserve encouraged risk-taking. Bitcoin’s correlation with gold (0.76) and technology stocks grew stronger, drawing in cross-asset investments, as reported by TradingNews. Still, traders remained wary, with volatility averaging 39% in October, down from 62% in July.

New players in the mining industry, such as BitFuFu (FUFU), contributed to the evolving landscape. The company introduced the ANTMINER S21+ Hyd., a hydro-cooled mining machine delivering 358 TH/s and energy efficiency of 15 J/TH. With a price tag of $15.3 per terahash, this product aimed to benefit from a potential new Bitcoin bull market, according to

. Meanwhile, American Bitcoin (ABTC) increased its strategic reserves to 3,865 BTC, using integrated mining operations to lower acquisition costs, as reported by .

Bitcoin’s price hovered around $110,500 (UTC+8), with significant resistance at $115,000 (UTC+8) and support at $100,000 (UTC+8). Experts stressed that continued ETF inflows and renewed buying by large holders would be vital for a breakout toward $125,000–$130,000 (UTC+8), according to TradingNews. For now, the market is balancing optimism about institutional involvement with caution from technical signals, highlighting the delicate state of a crypto sector still finding its place in mainstream finance.