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Bitcoin 
$94,215 has experienced fluctuations between $116,000 and $107,000 but has now returned to the baseline. If it fails to hold its support level, Bitcoin may see a further decline. The situation is more severe for altcoins, with many cryptocurrencies facing losses exceeding 5%, despite an agreement with China.
Critical Levels to Watch
As Bitcoin aimed to reach new all-time highs, President Trump’s inclination to escalate tensions with China to a conflict disrupted progress. Although a deal was reached earlier today, Bitcoin’s price has not recovered to the levels seen before Trump’s October 10 statements. Bitcoin continues to behave unpredictably, akin to a ping pong ball, slow in rising but quick to fall.
On-chain analyst Anıl pointed out the significance of upcoming options expiries, marking a critical price level.
He mentioned, “Tomorrow at 11:00 AM (TSI), $13 billion worth of Bitcoin options will expire on Deribit. The max pain level stands at $114,000. While there’s no certainty, should this level not be reached, substantial losses could occur for some.”
These options have previously influenced price directions multiple times. A swift move towards $114,000 could lead to significant liquidation of excessive short positions.
DaanCrypto detailed four other critical levels for Bitcoin.
“Bitcoin is testing the $107,000 level again. It’s still within this range.
Levels from low to high are:
$103,000 (Wick low).
$107,000 Local low and support.
$111,000 Mid-range and high-volume node.
$116,000 Range high and resistance.
We keep swinging between these levels; once one gives way, the others follow suit. Keep watching these levels closely.”
Impact of the China Deal on Prices
China has suspended shipping restrictions for a year, and the U.S. temporarily lifted half of its export controls. As of October 9, China halted its export restrictions. Both sides have frozen new investigations and countermeasures. The U.S. extended the tariff suspension by another year, a relatively favorable outcome with 12-month solutions instead of three. However, the longevity of this scenario remains uncertain. Cryptocurrencies should have reacted more positively to this development.
Failing to maintain the $112,000 support level has shelved the higher-low narrative, intensified panic among altcoin investors, and exacerbated losses. Nevertheless, Poppe remains optimistic, believing a breakout above $112,000 could lead to new all-time highs by November.
