- Rekt Capital says a failed rebound to $78,500 would strengthen the case for further losses.
- Bitmonk sees $74,000–$76,000 as the key test before a possible move below $65,000.
- Reported exchange outflows slowed to 2,792 BTC from about 22,800 BTC in the previous reading.
Bitcoin price rose 0.8% in 24 hours to roughly $77,300, but the rebound left BTC below $78,500. Analyst Rekt Capital is watching whether sellers defend that level on the next rally. Bitmonk sees a deeper risk: if support between $74,000 and $76,000 gives way, he believes Bitcoin could trade below $65,000 within two months.
Bitcoin Price Faces a Test at $78,500 After a Three-Day Close
Rekt Capital identified two distinct events on the three-day chart. Sellers had already turned back a rally near $81,400. Bitcoin then closed a three-day candle below $78,500, but the analyst stopped short of calling that level confirmed resistance.
The next rebound matters. If Bitcoin price returns to $78,500 and sellers push it down again, that would support Rekt Capital’s bearish reading. A move back above the level that holds would weaken it.
Ella noted that the $76,000–$77,000 area also caught September’s pullback. She sees a daily close below $76,000 exposing $74,000–$75,000, while a recovery above $79,500–$80,000 would improve the chart. Ted Pillows separately identified a liquidity cluster between $75,500 and $76,500.
From $77,300, a drop to $65,000 would amount to roughly 16%. Bitmonk places his longer-term buying zone between $55,000 and $65,000. Whether Bitcoin first loses the nearer support band is central to his forecast.
What Slower Exchange Outflows Say About the Bitcoin Price
Citing CoinGlass, Crypto Patel reported that about 2,792 more BTC left exchanges than entered on October 30. The previous net outflow was roughly 22,800 BTC, making the latest outflow about 88% smaller.
That reading offers limited guidance on Bitcoin price. It measures the difference between deposits and withdrawals. It does not establish that investors bought those coins or moved them into long-term storage.
On What Bitcoin Did, fund manager James Lavish pointed to competition from AI stocks and prediction markets for investor attention. Despite that competition, he believes Bitcoin has bottomed. His base case puts the next cycle peak between $400,000 and $500,000 in early to mid-2029. At press time, the Bitcoin price is around $77,300, up 0.8% over the past 24 hours.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
