The post Altcoin Daily Says Bitcoin Could fall to $103k, Godbole Sees First Support at $97K appeared on BitcoinEthereumNews.com.

Analysts on Oct. 30 (UTC) pointed to long-term trend tests, crowd fear and a first support zone, while CoinDesk Research’s technical analysis data model showed heavier trading and a tight range near support. Analyst comments Altcoin Daily pointed out that it’s common in bull markets for bitcoin to retest the 50-week moving average, placing that long-term guide around $103,000; a “retest” simply means price dipping back to a widely watched trendline to see if buyers step in again. Santiment said the dip toward $107,000 on Oct. 30 sparked a surge in social posts calling for sub-$100,000 prices. In its chart, blue bars point to about $50,000–$100,000 outcomes, and red bars track $150,000–$200,000 calls; the caption notes retail fear at the highest since the Oct. 10 crypto crash and argues markets often move against crowded expectations. CoinDesk Senior Analyst Omkar Godbole wrote that $97,000 “seems to be the first support.” His chart sketches a broad consolidation with a lower boundary pointing to the high-$90,000s, which is why he marks that $97,000 region as a place where declines have previously stalled. Technical analysis highlights Performance and correlation: Up 0.98% to $107,247 over 24 hours with just 0.78 percentage point outperformance versus the CoinDesk Index (CD5) benchmark, indicating bitcoin broadly tracked the market. Path and range: Earlier weakness saw a decline from $111,909 to $107,804 (about 4.0%, $4,497 range). The sharpest leg ran from $110,826 to an intraday low at $108,048. Heaviest sell burst: The largest wave printed 31,143 bitcoin traded (about 185% of the 24-hour average). Compression zone: Price oscillated between $107,650 and $108,225, creating a tight band just above $107,000. Broader band referenced: our model’s technical analysis cites $110,000 to $117,800 as part of strategic repositioning rather than panic. Patterns and positioning Compression near a floor: A narrow band around $107,000…

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Filed under: News - @ October 31, 2025 10:27 am