Bitcoin price has surged back to over $103,000 today after dipping below $100,000 on Tuesday — marking its lowest point since June — as the market faced intense fear. The decline occurred in the context of significant selling pressure, ETF outflows, and a resurgence of macroeconomic uncertainty. Earlier this week, nearly $1.8 billion was withdrawn by investors from Bitcoin and other crypto ETFs, with crypto-linked stocks also experiencing a downturn. In a move that adds to the existing pressure, Federal Reserve Chair Jerome Powell indicated that interest rates may remain elevated for an extended period. This development is bolstering the U.S. dollar while putting downward pressure on non-yielding assets such as Bitcoin.
Amid the chaos, certain investors are identifying potential opportunities. Michael Saylor’s firm, Strategy, has made a significant move by acquiring 397 BTC at an average price of $114,771, showcasing a strong belief in the long-term prospects of bitcoin’s value. Despite a prevailing atmosphere of caution and the presence of “extreme fear,” Bitcoin’s resurgence above $103,000 demonstrates notable resilience. On October 10, the crypto market experienced significant turmoil as bitcoin and the wider market faced a severe sell-off. This reaction came in the wake of President Trump’s announcement of sweeping 100% tariffs and export controls, a measure taken in response to China’s impending restrictions on nearly all products set to take effect on November 1, 2025. The news sparked a significant sell-off in the crypto market, with bitcoin experiencing a brief decline of 12%, while other major cryptocurrencies plummeted by as much as 40%.
Since that time, the price of bitcoin and other cryptocurrencies has struggled to bounce back from those levels. Bitcoin has demonstrated notable resilience compared to other altcoins, experiencing a decline of only 20–25% from early October levels. Bitcoin’s recent price slump could very well be the precursor to its next significant rally. As BTC faces challenges in matching the record-breaking surges of Gold and the S&P 500, market patterns indicate that a well-known rotation is taking shape — a phenomenon that has typically foreshadowed significant Bitcoin bull runs. Whenever Gold experiences a significant rally, it tends to cool off, leading to a rotation of capital into riskier assets such as equities and Bitcoin. This pattern has emerged throughout various periods — 2012, 2016, 2020 — and the current landscape appears strikingly familiar.
Gold has recently reached new peaks but appears to be losing momentum, whereas stocks are on the rise. The shift often indicates a resurgence in risk appetite — ideal circumstances for Bitcoin. However, when evaluated alongside other assets instead of the dollar, Bitcoin continues to have potential for growth. A resurgence to its previous relative peaks against equities or Gold suggests BTC prices could approach the $150,000 – $160,000 range.