Bitcoin Plunges to ~$107K as Fed Dashes ‘Uptober’ Rally – What’s Next for BTC?
Over the past week, Bitcoin traded in a choppy $114K–$107K range. It started around $111–112K on Oct 24–25, then climbed to about $114–116K on Oct 26–27 amid easing U.S.–China trade rhetoric. The Fed cut rates on Oct 29, but Chair Powell’s caution on future cuts prompted a sell-off. BTC eased from ~$113K to ~$107–108K by Oct 30investing.comcoindesk.com. For comparison, BTC’s 7-day performance trails the Nasdaq over the same period. Correlations remain high – Citi Research notes the recent sell-off “revealed bitcoin’s growing equity sensitivity”ts2.tech, meaning crypto is moving more in lockstep with stocks.