Bitcoin has fallen below its 200-day Simple Moving Average (SMA), currently around $110,424, signaling potential further declines. This technical breach raises concerns among traders and institutional investors, as the 200-day SMA is a key long-term trend indicator. Market analyst Ali highlighted that this level's breach could indicate a shift to a downward trend, with the current price nearing the breakeven point for many investors, potentially increasing selling pressure during rebounds. November is considered a pivotal month, with expectations of a local bottom forming as the 50-day and 200-day moving averages converge near $100,000. Despite recent volatility, institutional activity remains significant, with $3.55 billion in inflows to US spot Bitcoin ETFs in early October. Analysts suggest Bitcoin could reach $130,000 to $140,000 if macroeconomic conditions improve and ETF demand strengthens.
Bitcoin Dips Below 200-Day SMA Amid Rising Volatility
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