Bitcoin (BTC) has retreated by 7% in the past month ahead of this week’s interest rate decision and is now struggling to stay above $110,000.

Market sentiment started to sour after President Donald Trump increased tariffs on Chinese imported goods by another 100%. His decision caused a flash crash that produced $16 billion in losses for traders.

In the past 24 hours, the token has booked a 2% gain after the Fed reduced its benchmark interest rate by 25 basis points.

However, the head of the U.S. central bank, Jerome Powell, warned that another cut in December is far from being a done deal.

In the midst of this uncertain macro backdrop, one trader who is followed by nearly 200,000 users on X shared a bearish Bitcoin price prediction. He sees a 70% drop coming for BTC based on historical patterns.

Can’t stop thinking about this chart.

Every $BTC rejection from this line → 70% crash.

We’re there again.

Who’s ready for $BTC at $40,000? pic.twitter.com/vN1UgjCEHM

— AlΞx Wacy ? (@wacy_time1) October 31, 2025

According to Alex Wacy, Bitcoin’s 2-week chart shows that the token has hit a key trend line resistance. Every time the price has hit this line, BTC has crashed.

The last time it happened was in the first few months of 2025. The top crypto went on to decline from around $109,000 to nearly $70,000 in just a few months. Before that, two major crashes occurred in 2021 and 2022. They led to 70%+ losses for those who bought at the peak.

Although history doesn’t necessarily repeat, it often rhymes. A 70% loss at this point for BTC would mean that the token could drop to around $36,000. Sounds crazy considering the fact that it made multiple all-time highs this year. However, this would not be the first time that it happens.

Bitcoin Price Prediction: Losing the 200D EMA Support Could Result in a Drop to $100k

The daily chart for BTC shows that the token has been in consolidation for weeks. During this period, it has traded in a narrow range between $108,000 and $125,000.

Today, the price has bounced off the low end of this range and could take another swing toward the $115,000 resistance area in the next few days.

Although the Federal Reserve warned that it may not cut rates in December, analysts believe that the odds of that happening are still high. According to data from FedWatch, the have assigned a 61% probability to a 25bps cut.

The Relative Strength Index (RSI) shows no directional bias, making it difficult for traders to make a decision as momentum is stalled.

The 200-day exponential moving average (EMA), which also sits at around $108K at the time, is the key support to watch. If the price moves below this mark, the odds of a much deeper correction toward $100,000 will increase dramatically.

Despite this gloomy outlook shared by Wacy, BTC has always managed to recover from those big drops. Every time, it has managed to deliver huge gains to those who bought the dip.

One promising crypto presale called Bitcoin Hyper ($HYPER) is betting big on the top crypto’s long-term potential by launching the first real Bitcoin L2.

Bitcoin Hyper ($HYPER) Will Usher in New Era for BTCFi Upon Raising $25M

Bitcoin Hyper ($HYPER) is introducing the first true Layer 2 network built to supercharge Bitcoin.

This solution was created to fix the network’s long-standing issues. These include slow transaction speeds, high fees, and limited programmability.

The project leverages the power of the Solana blockchain to unlock new possibilities for developers. It allows them to finally build dApps and smart contracts directly on the Bitcoin OG blockchain, but without the usual bottlenecks.

The Hyper Bridge is designed to receive BTC tokens safely on a designated canonical wallet within the Bitcoin network. Users will receive the corresponding amount of assets with near-instant finality on the Hyper L2 to earn yield, stake, and lend their tokens to generate passive income.

Analysts agree that once the solution starts to be embraced by top wallets and exchanges, the price of its utility token, $HYPER, could receive a significant boost.

To buy $HYPER before the next price increase, simply head to the official Bitcoin Hyper website and connect your wallet. You can either swap USDT or ETH tokens or use a bank card to invest.