CRYPTO SHOWDOWN: Bitcoin Defends $108K as Fed Meeting Looms - Bears Target $97K While Traders Hunt Best Buys
Bitcoin's fortress holds at $108,000 while Wall Street's talking heads predict a plunge to $97,000. The entire crypto market holds its breath ahead of today's Federal Reserve meeting.
WHY THE PRESSURE COOKER?
Traditional finance institutions are placing their bearish bets, convinced Bitcoin's recent surge can't sustain itself against Fed policy decisions. Meanwhile, crypto veterans see this as another manufactured crisis—because when has the Fed ever gotten monetary policy right?
THE REAL QUESTION EVERYONE'S ASKING
While Bitcoin battles macroeconomic forces, smart money is already positioning for the next leg up. The dip-buying brigade is out in force, searching for assets that could explode when the Fed inevitably pivots.
Remember: Wall Street analysts have been wrong about Bitcoin more times than they've been right. This might just be another buying opportunity disguised as a crisis.
(Source: Coinglass)
U.S. Federal Reserve is set to make key decisions on digital assets during its Payments Innovation Conference today, October 21. The event will focus on how blockchain and crypto can improve payment systems, efficiency, and security.
Governor Christopher J. Waller will lead discussions on digital integration in finance, joined by executives from BlackRock, Chainlink, and other firms. Topics include stablecoins, tokenization, and cross-border digital payments.
$107k area on a daily time frame is a pretty key area if we don't want to see $90k. Could take a few weeks before it resolves.
Just don't get bearish even if we visit $90k lol.$BTC pic.twitter.com/9x3s2mX50C
— VikingXBT (@VikingXBT) October 21, 2025
Bitcoin Price Holds $108K As Bears Eye $97K
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Bitcoin
BTC
$108,211.27
1.44%Bitcoin
BTC
Price
$108,211.27
1.44% /24h
Volume in 24h
$57.24B
Price 7d
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dropped to around $107,000, while
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Ethereum
ETH
$3,887.78
0.29%Ethereum
ETH
Price
$3,887.78
0.29% /24h
Volume in 24h
$31.30B
Price 7d
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slid below $3,900. The decline follows a sharp rise in U.S. real yields and a stronger dollar, compounded by President Donald Trump’s newly announced 100% tariff on Chinese tech imports. The MOVE rattled global markets and triggered a mass deleveraging across crypto.
Over $19 billion in Leveraged positions were liquidated last week — the largest single-day event in crypto history. Analysts describe this phase as a necessary correction after Bitcoin’s run above $126,000 earlier in October. Institutional selling through spot Bitcoin and Ethereum ETFs added to the pressure, causing heavy outflows and liquidity drains.
The CoinMarketCap Fear & Greed Index has plunged to 33, signaling DEEP fear, while negative funding rates show traders betting on more downside. Still, some analysts expect recovery if ETF inflows resume and the Federal Reserve follows through with its expected rate cut later this month.
Elon Musk Brings FLOKI Back To Life – Next Best Crypto To Buy?
While major assets bleed, FLOKI suddenly stole attention. Elon Musk posted an AI-generated Grok video captioned “Flōki is back on the job as X CEO!” — instantly reviving the meme coin’s momentum. FLOKI’s market cap jumped from $660 million to over $800 million, as traders spotted a double bottom pattern and bullish divergence on the daily RSI.
The community believes FLOKI might have formed a bottom after weeks of sideways action. Whether Musk continues his playful nods or not, FLOKI’s renewed HYPE makes it one of the best cryptos to watch for a short-term rebound in this volatile market.
22 minutes ago
SpaceX Moves $268 Million in Bitcoin After Three-Month Pause
According to @ai_9684xtpa, SpaceX has transferred $268 million worth of Bitcoin, its first major movement in three months. Roughly 1,187 BTC were sent to a bc1qq address and 1,208 BTC to a bc1qj7 address, both still inactive.
The previous July transfer was later identified by Arkham as linked to Coinbase Prime Custody, suggesting this latest transaction could be another internal wallet shuffle rather than a sale or market move.
