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Main highlights:
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Bitcoin faces potential new lows this October as sellers reclaim dominance and BTC price exploration is stalled.
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Key targets include the recent range lows around $108,000 amidst bearish divergences.
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There is a lack of strength as daily declines approach 3%.
Bitcoin (BTC) approached weekly lows following Thursday’s Wall Street opening as sellers prevented bulls from engaging in price exploration.
Bitcoin “probably” to pave the way for shorts next
Insights from Cointelegraph Markets Pro and TradingView indicated that BTC/USD dropped below $120,000.
With a daily drop nearing 3%, the pair continued to navigate through bid liquidity on exchange order books.
“The market still quotes bid liquidity around $121K-$120K but what we need to observe next is the absorption of sellers to avoid a sweep lower,” well-known trader Skew noted in part of his latest market analysis on X.
Skew further asserted that the market was “highly likely to be ruled by new shorts opening” in the near term.
Trading platform Material Indicators, on the other hand, utilized proprietary trading instruments to underscore repeated evaluations of nearby support.
“We are now undergoing a third consecutive Daily support examination at the trend line,” it concluded alongside an accompanying graphic.
“Failing to hold the trend line would open the path to a support examination at the Q4 Timescape Level at $114k.”
Data from CoinGlass revealed insufficient bid support well below the $120,000 threshold at the time of writing, while asks multiplied overhead.
BTC price fragility brings $108,000 back into focus
Reflecting on longer timeframes, renowned trader Roman reiterated the precarious situation Bitcoin currently inhabits, despite its recently reached all-time highs.
Related: BTC October price breakout probabilities low: 5 things to be aware of in Bitcoin this week
“A gentle reminder that we are once more recording more bearish divergences, low volume, & lack of momentum on HTF. Both 1W & 1M,” he informed X followers.
$BTC 1W
A gentle reminder that we are once again recording more bearish divergences, low volume, & lack of momentum on HTF. Both 1W & 1M.
We successfully forecasted the movement from 107-124k accurately, now I perceive a lower movement, possibly to 108k once more.
I do not observe strength here. pic.twitter.com/pdEfp535eG
— Roman (@Roman_Trading) October 9, 2025
Roman anticipated that the local range lows at $108,000 could become relevant again, something already on the radar for October.
Previous reports by Cointelegraph highlighted a different analysis that suggested a bullish BTC price breakout may materialize only after October.
This article does not contain investment counsel or recommendations. Every investment and trading maneuver carries risk, and readers should perform their own investigation when making a decision.
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