FX.co ★ Bitcoin ends October on sour note

Bitcoin remains around the $110,000 mark, keeping its chances for a slight increase alive on the last day of October. Traditionally, October has been one of the best months for the cryptocurrency market in its history. However, 2025 appears to be a notable exception to this trend.

Despite some altcoins demonstrating local spikes in activity, the overall picture remains negative. Investors are adopting a wait-and-see approach, fearing further market corrections. Regulatory risks, although reduced, have not been alleviated, and the ongoing shutdown in the U.S. leaves no new positive developments, which serves as a significant restraining factor.

Macroeconomic conditions are also playing a role. While inflation shows signs of slowing, interest rates remain elevated, putting pressure on higher-risk assets, including cryptocurrencies. Nonetheless, the long-term prospects for Bitcoin remain positive. Strengthening institutional interest, the growing popularity of decentralised finance, and the potential rise of spot ETFs could drive growth in the future. A key factor for further movement will be Bitcoin's ability to overcome current macroeconomic and geopolitical obstacles. Otherwise, the $100,000 level, which serves as a crucial psychological benchmark, could merely act as a temporary pause before further correction.

Trading recommendations

From a technical viewpoint, Bitcoin buyers are currently targeting a return to the $111,300 level, which would open a direct path to $113,500, and from there, it's just a short distance to $115,000. The most distant target would be the high around $116,700; surpassing this level would signify a strengthening bullish market. Should Bitcoin decline, I anticipate buyers at the $108,800 level. A return of the trading instrument below this area could quickly push BTC down to around $106,200, with the further target being the $103,400 region.

For Ethereum's technical outlook, a solid consolidation above the $3,949 level opens a direct route to $4,071. The most distant target will be the high around $4,173. Surpassing this level would indicate a strengthening bullish market and increased buyer interest. Should Ethereum decline, I expect buyers at the $3,818 level. A return of the trading instrument below this area could swiftly drop ETH to around $3,691, with the further target being the $3,505 region.

Chart indicators

• Red indicators represent support and resistance levels, where a slowdown or active price increase is expected.
• Green represents the 50-day moving average.
• Blue indicates the 100-day moving average.
• Light green signifies the 200-day moving average.

Crossovers or tests of the moving averages usually halt or set the market's momentum.