🟨Bitcoin dipped to $103,500, triggering $916 million in liquidations and raising doubts about the continuation of its bullish cycle. According to analyst CryptoBird, the current cycle is “99% complete” and could officially end by October 24. He interprets the latest downturn as a cleansing phase before a final upward push, similar to the patterns seen in previous market peaks.
🟨However, technical signals point to growing reversal risks. A breakdown below the 200-day moving average could lead to a correction toward $52,200. With retail interest fading and sentiment turning cautious, the market remains suspended in a state of uncertainty and consolidation.