Bitcoin Price Plunges Below $104,000: Will it Fall Below $100,000 Before October Ends?

Bitcoin price plunged below $104,000, sparking fears of a fall below $100,000 before the end of October. According to Polymarket, 48.9% of investors predict BTC will fall below $100,000 this month, while 52.9% expect it to hold above $100,000. Optimism for upward expectations is low, with only 6% predicting BTC will break above $130,000 this month.

Bitcoin's price has fallen below $104,000, marking a significant drop from its recent highs. As of the time of writing, Bitcoin (BTC) is trading at $104,767, having lost 5.37% in the last few hours and 13.95% over the past week. The market value of Bitcoin stands at $2.1 trillion, with trading activity surging by 59% to $114 billion as investors rush to sell, according to a CryptoTimes report.

The decline in Bitcoin's price is largely attributed to fears surrounding U.S. regional banks and tensions with China. Additionally, over $1.20 billion in crypto has been liquidated due to the market drop, with $898 million coming from long-position traders, the CryptoTimes report said. Gold, on the other hand, has continued to surge, hitting a record high of $4,380.79 per ounce and pushing its market cap to $30 trillion, the article added.

Peter Schiff, a prominent gold advocate, commented on the drop, stating that gold could reach $1 million before Bitcoin. He also noted that Bitcoin has failed as a viable alternative to the U.S. dollar or digital gold, according to the coverage.

According to Coincodex's prediction, Bitcoin is currently trading 16.32% below its prediction for October 22, 2025, and has dropped by 10.39% in the last month. The coin is expected to rise by 14.82% in the next five days, according to that prediction. However, the sentiment in the Bitcoin markets is currently bearish, with the Fear & Greed index reading at 22 (Extreme Fear), indicating a negative outlook among investors.

Technical indicators suggest a bearish trend for Bitcoin, with 76% of indicators favoring a negative prediction. The most important support levels to watch are $106,416, $104,771, and $102,024, while key resistance levels are $110,808, $113,555, and $115,200, per Coincodex's analysis.

Polymarket data indicates that 48.9% of investors predict BTC will fall below $100,000 this month, while 52.9% expect it to hold above $100,000. Only 6% predict BTC will break above $130,000 this month, highlighting the low optimism for upward expectations .