Bitcoin ( BTC ) is witnessing sustained bouts of volatility, aligning with the broader market sentiment , with an artificial intelligence (AI) model projecting that the asset is likely to trade below $110,000 by November 1. Indeed, the market has been weighed down by ongoing trade tensions, which have dampened Bitcoin’s hopes for a swift 0 press time, BTC was trading at $109,066, having corrected by almost 2% in the last 24 hours, while on the weekly timeline, the asset is down 1.7%. Bitcoin seven-day price chart.) nearly $6 billion year-to-date, is likely to slow, easing upward 1 model noted that this moderation could bring mild consolidation pressure as the market digests earlier gains.
Technically, Bitcoin’s relative strength index at around 65 indicates that the asset remains bullish but not 2 averages ( MA ) reinforce this view, with the 20-day average near $106,000 and the 50-day near $99,000, reflecting a solid upward trend. However, ChatGPT anticipates that in the absence of new catalysts, Bitcoin may briefly retest the 20-day average before resuming its next leg 3 the macroeconomic front, the forecast assumes that a weaker 4 and steady inflation expectations will continue to support Bitcoin’s positive correlation with gold and equities. A sudden shift in tone from the Federal Reserve, particularly a hawkish stance later in October, could temporarily pressure Bitcoin toward the $100,000 5 price levels to watch The model also pointed to high derivatives funding rates, suggesting that excessive leverage could trigger a short-term correction of 3% to 6% before a 6 specific price levels, ChatGPT outlined a base-case scenario where Bitcoin trades between $106,000 and $112,000, with a 60% probability.
A bullish breakout toward $113,000 to $118,000 carries a 25% chance, while a bearish pullback to $98,000 to $103,000 is assigned a 15% 7 price prediction.
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