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The leading cryptocurrency, Bitcoin 
$103,176, witnessed a drop to $107,600, reaching its daily low unexpectedly, following the recent statements by the Federal Reserve. This decline was not anticipated, and with the breach of the $107,000 mark, there are concerns of substantial sell-offs in altcoins. Solana 
$162 (SOL) has already experienced a 7% loss today. How does a renowned cryptocurrency expert interpret this current situation?
Crypto Seer Insights
Known for making accurate predictions in the last two quarters of this year, the analyst operating under the pseudonym Roman Trading has earned the nickname of a crypto seer. Despite anticipating the day when his predictions might fail, his recent forecasts have largely hit the mark. Trump’s move regarding China proved the analyst right, but regardless of the reason, he was already anticipating a significant October downturn.
On October 30, the analyst reestablished their stance, stating:
“Therefore, when the SPX experiences some form of pullback/correction, I anticipate BTC will decline significantly. Maybe by 20-30%.”
“BTC remains flat, but stocks have risen over 40%. The weakness is very obvious.”
“It’s coming, folks.”
If the prediction holds true, altcoins may revisit days of losses exceeding 50%. However, with falling interest rates and a one-year agreement signed with China, when the ongoing downturn is recognized as a trap, there will be many analysts claiming “I knew it.”
Sherpa, by sharing the above chart, mentioned that the range maintained for months is secure.
“The price is at the range’s lowest level and at the 200-day EMA. I don’t think it’s a suitable spot to initiate a mega short position.”
Ethereum (ETH)
To understand what’s transpiring in altcoins, examining Ether is wise. ETH lingers at $3,800 and its prolonged fluctuations below $4,000 are negatively impacting risk appetite, with ETF outflows causing concern. Earnings reports from Apple and Amazon are expected to be released in a few hours, which could support the stock market and, consequently, the crypto market.
Poppe remains optimistic as usual.
“There are two interesting factors here.”
“ETH maintains a strong, significant support level relative to its horizontal price levels. It also stays above the 20-week moving average.”
“I expect this to continue and as we enter November, we should start witnessing green weeks.”
