Halving helped Bitcoin digest sell-off

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Halving helped Bitcoin digest sell-off
FxPro | 551 gün önce

Market picture

The crypto market was relatively quick to digest the sell-off that gripped markets following Israel's attack on Iran. The capitalisation rose 4.7% in 24 hours to $2.33 trillion, but this is down from $2.62 trillion seven days earlier.

Halving and strong technical support are supporting a 'buy on dips' pattern in Bitcoin, and this is affecting the rest of the cryptocurrencies. The halving will take place on Saturday night. The technical picture now suggests that BTCUSD is successfully holding within a corrective pattern, finding support on dips to the 61.8% Fibonacci retracement level of the rally from the January lows.

However, bullish positions are not as strong as they were earlier in the month, with the 50-day moving average acting as resistance. A strong rally above $67 will be needed to overcome this bearish signal.

News background

JPMorgan allowed bitcoin to fall after it halved based on an analysis of open interest in bitcoin futures. In addition, the market remains overbought.

Historically, major post-halving gains occur in 6-18 months, and major price changes become statistically less likely as market size increases, Coinify noted.

Analyst PlanB, creator of the Stock-to-Flow model, said the current halving cycle is no different from previous ones. He expects bitcoin to peak at $100K in 2024 and $300K next year.

The Finder platform presented the results of a survey of 31 cryptocurrency and financial technology experts. Bitcoin could reach $122K in 2024 and $109K by the end of the year.

According to BitInfoChart, bitcoin transaction fees spiked on the back of user activity in anticipation of the launch of Runes, a new interchangeable token standard on the BTC blockchain. The average commission exceeded $16.

By the FxPro Analyst Team

FxPro
Tür: NDD
Düzenleme: FCA (UK), SCB (The Bahamas)
read more
Inflation in Focus as Traders Eye BoE’s Next Move | 22nd October 2025

Inflation in Focus as Traders Eye BoE’s Next Move | 22nd October 2025

Markets traded cautiously as investors awaited UK inflation data, a key driver for the Bank of England’s next move. The Pound held firm ahead of CPI, oil extended gains on improving demand, and the US Dollar stayed soft. Broader sentiment was steady as easing US–China trade tensions balanced inflation-driven uncertainty.
Moneta Markets | 9s 5 dakika önce
ATFX Market Outlook 22nd October 2025

ATFX Market Outlook 22nd October 2025

The U.S. Dollar Index climbed to a six-day high, buoyed indirectly by a weaker yen. Markets reacted to the election of conservative Sanae Takaichi as Japan’s first female prime minister, with speculation that fiscal expansion under her leadership could cloud the country’s interest rate outlook.
ATFX | 11s 24 dakika önce
Gold plummets on profit taking

Gold plummets on profit taking

Gold drops as traders decide to lock profits ahead of US CPI data - Yen falls as Takaichi becomes Japan’s next Prime Minister - Pound slides as well after weaker than expected inflation - Wall Street participants digest earnings results
XM Group | 11s 42 dakika önce