🚨 **COULD BITCOIN DROP BELOW USD 74,000 TODAY, 30/10?**
I still believe BTC’s downturn isn’t over. Given the current situation, I think Bitcoin is more likely to continue falling sharply and could even reach the USD 74,000 level today.
**There are 4 reasons why I think so:**
📉 **1. Selling pressure remains very strong:** BTC has been under constant pressure following several steep declines. Buyers haven’t shown they can control the market, while sellers remain in the lead.
📉 **2. The Binance hack shock:** The security incident, with estimated losses of around USD 6.3 billion, is severely affecting investor confidence. Although Binance says it will cover the losses and protect users’ assets, concerns may persist.
📉 **3. Panic selling could spread:** This is what worries me most. When a major exchange like Binance encounters an issue, many people will prioritize protecting their capital rather than buying the dip. If BTC continues to lose support, fear of losses and selling early to avoid risk could intensify selling pressure even further.
📉 **4. Risk of cascading liquidations:** If BTC loses the USD 76,000–76,500 range, leveraged Long positions could be liquidated, adding more selling pressure and pushing the price down faster.
**The scenario I’m watching:**
🔻 Losing USD 76,500 → heading toward USD 75,000.
🔻 Breaking below USD 75,000 → the likelihood of testing the USD 74,000 level will increase.
🔻 If panic selling sets in, BTC could briefly break below 74K.
I still lean toward the scenario where BTC could reach 74K today. Of course, this is a forecast, not a certainty.
Do you think 74K will hold, or is another deeper drop coming? 👀
$BTC
I still believe BTC’s downturn isn’t over. Given the current situation, I think Bitcoin is more likely to continue falling sharply and could even reach the USD 74,000 level today.
**There are 4 reasons why I think so:**
📉 **1. Selling pressure remains very strong:** BTC has been under constant pressure following several steep declines. Buyers haven’t shown they can control the market, while sellers remain in the lead.
📉 **2. The Binance hack shock:** The security incident, with estimated losses of around USD 6.3 billion, is severely affecting investor confidence. Although Binance says it will cover the losses and protect users’ assets, concerns may persist.
📉 **3. Panic selling could spread:** This is what worries me most. When a major exchange like Binance encounters an issue, many people will prioritize protecting their capital rather than buying the dip. If BTC continues to lose support, fear of losses and selling early to avoid risk could intensify selling pressure even further.
📉 **4. Risk of cascading liquidations:** If BTC loses the USD 76,000–76,500 range, leveraged Long positions could be liquidated, adding more selling pressure and pushing the price down faster.
**The scenario I’m watching:**
🔻 Losing USD 76,500 → heading toward USD 75,000.
🔻 Breaking below USD 75,000 → the likelihood of testing the USD 74,000 level will increase.
🔻 If panic selling sets in, BTC could briefly break below 74K.
I still lean toward the scenario where BTC could reach 74K today. Of course, this is a forecast, not a certainty.
Do you think 74K will hold, or is another deeper drop coming? 👀
$BTC
