Bitcoin’s Sudden 3% Plunge: What’s Next for the Turbulent Cryptocurrency?

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Key Takeaways

Why did Bitcoin display such chutzpah and volatility in the past 24 hours? 🤔

Our dear digital gold took a nosedive of 3%, largely owing to aristocratic long-term holders and a brief intermission before the FOMC’s latest theatrics. The market, ever the primadonna, decided to give a little performance-selling off a bit, just enough to keep things interesting. 🔻

Why is the heroic $110k support level so vital? 💎

This was the all-important realized price for the 3-6 month age cohort-a threshold that’s been valiantly tested thrice in a mere ten days. It’s the on-chain version of “Are we really going to break our piggy banks here?”

Over the past month, our dear Maartun, the crypto analyst with a penchant for drama, noted that long-term holders (LTHs) have relinquished an astonishing 325,600 BTC. That’s enough to make even the stoniest investor raise an eyebrow. 🧐

This is the steepest monthly exodus since July 2025-clearly, the LTHs are either exiting stage left or plotting something far less optimistic, perhaps a spot of profit-taking or internal reorganizations. 💸

And if that wasn’t enough, a recent report from AMBCrypto revealed that 270k of the dormant Bitcoin-those stoic coins resting in peace for over seven years-had been mobilized in 2025. A veritable movement of the Great Unseen, likely motivated by the siren call of profit or the cautious whispers of security concerns.

Since crossing the psychological barrier of $100k in June-128 days and counting-LTHs appear to be losing their bullish fervor, pocketing gains amidst the parade of price highs. The game is changing, folks. 🎭

Maartun also observed a frenzy of activity among coins dormant for three to five years-a third such spike in as many days, with 4.7k BTC shuffled about like a deck of ill-tempered cards. Quite the dance of the ghosts of Bitcoin past. 👻

So, is Bitcoin destined for a downward spiral, or just taking a little breather? 🚨

According to Darkfost from CryptoQuant, the rising spot trading volume could be a sign of market activity with a purpose-an optimistic indicator that traders are wary of leverage’s seductive charms. After October’s violent forced liquidation, increased spot volume hints at a market that’s shaking off its reckless tendencies.

A rally driven by spot trading alone might be sturdier-less volatile-than the chaotic allure of high leverage, which often leaves the market battered and bruised. One must keep in mind, though, that velocity does not always mean victory; high spot volume doesn’t necessarily declare that buyers are in charge. It could just be a grand liquidity hunt. 🎩

Right now, Bitcoin is testing the critical support of its realized price at just over $110k, specifically the $110.1k mark for coins held between 3-6 months. This is a make-or-break moment-twice within ten days it has flirted with disaster.

If the price dips below this line before the Thursday close, we might be in for an unsettling short-term signal. On the next support rung, at $93.3k, lies the fortress for those who bought and held in the six to twelve-month interval-keep an eye on that one, or risk the crypto comedy turning tragic. 🎭

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2025-10-30 16:58