Bitcoin Today 23/10/2025: BTC Dips to $108K – Temporary Correction or ATH Imminent?
- Why Did Bitcoin Drop to $108K Today?
- Is This a Repeat of Past Bull Market Corrections?
- What’s Next for BTC Price?
- FAQs
Bitcoin’s price rollercoaster continues! After flirting with record highs earlier this week, BTC suddenly dropped to $108,000 today (October 23, 2025), leaving traders wondering: Is this a healthy pullback before another rally or the start of a deeper correction? We’ll break down the charts, analyze whale activity, and explore whether macroeconomic factors (like the Fed’s recent rate decision) are at play. Spoiler: The BTCC research team thinks this might be a classic "buy the dip" opportunity—but let’s dive deeper.
Why Did Bitcoin Drop to $108K Today?
At 5:30 AM UTC, BTC nosedived 7% from its weekly high of $116K, triggering $420M in liquidations (per TradingView). The dip coincided with:
- Profit-taking by whales: A cluster of 10K BTC moved to exchanges like BTCC and Binance overnight.
- Fed Chair Powell’s hawkish remarks about "persistent inflation," spooking risk assets.
- Technical resistance at $116K—a level last seen during the 2024 halving rally.
Funny enough, retail traders FOMO’d in hard during the dip—BTCC reported a 200% spike in BTC buy orders under $110K. Maybe they remember what happened after the 2023 "fakeout" drop?
Is This a Repeat of Past Bull Market Corrections?
Historically, bitcoin sheds 20-30% during bull runs before new ATHs. Compare today’s action to:
| Year | Pre-ATH Drop | Days to Recover |
|---|---|---|
| 2017 | 40% | 14 |
| 2021 | 28% | 9 |
| 2025* | 7% (so far) | ? |
*Current cycle. Data: Glassnode
Veteran trader @CryptoCobain tweeted: "This smells like 2021’s $58K→$43K shakeout. Weak hands get rekt, then we moon." I’m inclined to agree—unless $105K support breaks.
What’s Next for BTC Price?
The BTCC analytics team highlighted two scenarios:
- Bullish: Holding $105K could fuel a retest of $120K by month-end (per Fibonacci extensions).
- Bearish: A close under $100K may signal a longer cooldown phase.
Pro tip: Watch the Tether premium on BTCC’s OTC desk—Asian traders often front-run big moves.
---FAQs
Should I buy Bitcoin now?
If history rhymes, dips like this are accumulation zones. But DYOR—nobody has a crystal ball.
How low could BTC go?
In a worst-case scenario, $95K (200-day MA) is strong support. But with ETF inflows at $1B/week, downside seems limited.
Is altcoin season over?
Not necessarily. ETH/BTC ratio is holding steady—altcoins often rally after BTC stabilizes.
