Key points:
Bitcoin falls to its lowest levels since June as familiar US banking turmoil returns.
Traders see $100,000 as possibly failing as support.
Gold comes off fresh all-time highs as Peter Schiff sees it beating Bitcoin to the $1 million mark.
Bitcoin (BTC) fell to 15-week lows on Friday as a US banking rout added to BTC price pressures.
BTC/USD four-hour chart. Source: Cointelegraph/TradingView
Bitcoin risks “going straight to $98,000” next
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin dropping under $106,000 for the first time since June.
Crypto markets reacted badly to concerns over US regional banking stocks, which began falling in a manner similar to March 2023. Then, Bitcoin and altcoins saw a flash crash before a strong rebound, with BTC/USD dipping under the $20,000 mark.
“In March 2023, regional bank stocks collapsed, the crisis was “contained,” but nothing really changed,” trading resource The Kobeissi Letter wrote in an X post on the topic.
Reacting, some traders warned of a retest and potential failure of key BTC price support at $100,000.
If $BTC lose this support, we are going straight to $98,000.
Good Luck everyone. pic.twitter.com/sIjbPPAoOM
— Borg (@Borg_Cryptos) October 17, 2025
Others saw an attempt to “fill” a daily candle wick from last week, which took price to $102,000 on Binance amid US-China trade-war worries.
“$BTC working on the Binance wick. If it doesn’t end here, it could fill the whole wick near the weekly 50 MA,” trader SuperBro wrote on X.
BTC/USD one-day chart with 50-week MA. Source: SuperBro/X
Earlier moving averages (MAs) on daily timeframes failed to hold as support, leading Bitcoin to touch its 200-day MA for the first time in over six months.
“$BTC has lost the $108,000 support level. Now there’s little to no support until $101,000-$102,000,” crypto investor and entrepreneur Ted Pillows agreed.
“If Bitcoin manages to reclaim the $110,000 level from here, we could see a bounce back. Otherwise, expect more pain before relief.”BTC/USDT one-day chart. Source: Ted Pillows/X
Gold bug Schiff sees $1 million before Bitcoin
The banking…
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