{"id":110444,"date":"2025-11-04T20:14:59","date_gmt":"2025-11-04T20:14:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=110444"},"modified":"2025-11-04T20:14:59","modified_gmt":"2025-11-04T20:14:59","slug":"bitcoin-price-falls-under-100000-elliott-wave-analysis-forecasts-decline-to-70000","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=110444","title":{"rendered":"Bitcoin Price Falls Under $100,000: Elliott Wave Analysis Forecasts Decline To $70,000"},"content":{"rendered":"

On Tuesday, the Bitcoin price briefly dipped below the significant $100,000 threshold for the first time since June. Market expert Lark Davis summarized the facts behind the ongoing sell-off on the social media platform X (formerly Twitter), describing the situation as \u201cabsolutely relentless.\u201d\u00a0<\/p>\n

Bitcoin Price Set For Deeper Correction\u00a0<\/h2>\n

Davis highlighted <\/a>a range of factors contributing to the Bitcoin price downturn, including selling activity from exchange-traded funds (ETFs), and large-scale investors known as whales. He suggested that fear among investors is reaching a peak, indicating a phase of significant capitulation.<\/p>\n

Amid these developments, reports <\/a>have emerged that the Bitcoin price is undergoing an Elliott Wave Correction. Analysts suggest that Wave (5) appears to be complete, and Wave (B) might have reached its peak.\u00a0<\/p>\n

This could set the stage for a deeper Wave (C) correction, potentially bringing the price down to the $70,000 to $75,000 range. This would mean an additional 30% decline ahead for the market\u2019s leading crypto.\u00a0<\/p>\n

The unfolding Elliott Wave A-B-C structure indicates that there is strong support for the Bitcoin price in the \u201cgreen box\u201d seen in the chart above, which could serve as a potential reversal zone. However, the analyst caution that a substantial rally may follow the completion of the Wave (C) correction.<\/p>\n

Altcoins At Risk<\/h2>\n

Further complicating the outlook, market analyst Ted Pillows emphasized <\/a>that merely conducting quantitative tightening (QT) would not suffice to stabilize the market.\u00a0<\/p>\n

Referring to historical data from the third quarter of 2019, when the Federal Reserve (Fed) halted QT, Pillows noted that altcoins dropped significantly\u2014by 40%\u2014and did not find a bottom until the Fed initiated quantitative easing (QE).<\/p>\n

He warned that the current situation would likely mirror that past experience, stating that unless new liquidity enters the market, alts will continue to set new lows. While a few may outperform, the majority are expected to decline further.<\/p>\n

As of writing, the Bitcoin price had recovered the $100,900 mark. However, losses of 6% and 12% were recorded in the last 24 hours and over the past seven days, respectively.\u00a0<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

On Tuesday, the Bitcoin price briefly dipped below the significant $100,000 threshold for the first time since June. Market expert Lark Davis summarized the facts behind the ongoing sell-off on the social media platform X (formerly Twitter), describing the situation as \u201cabsolutely relentless.\u201d\u00a0 Bitcoin Price Set For Deeper Correction\u00a0 Davis highlighted a range of factors […]<\/p>\n","protected":false},"author":0,"featured_media":110445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-110444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/110444"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=110444"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/110444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/110445"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=110444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=110444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=110444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}