Bitcoin Tests $100K Support as K33 Analyst Flags Mixed Bottom and Downside Signals

Bitcoin fell 10% over the past week and retested the $100,000 level—its lowest since June and the weakest 30-day performance versus the Nasdaq since July 2024, K33 Research reports. Chief Research Officer Vetle Lunde attributed the decline to tight liquidity and fear-driven sentiment after the Oct. 11 deleveraging event, which triggered at least $20 billion in crypto liquidations. The analyst noted Bitcoin now stands at a critical point roughly 25 days after that event, with derivative market indicators showing a mix of bottom formation and early downside characteristics. Additional pressure followed the latest FOMC meeting, where policy uncertainty over a potential U.S. government shutdown overshadowed the Federal Reserve's 25 basis point rate cut.