The post ‘Ignoring Bitcoin for 17 Years Is the Spookiest Thing,’ Says Metaplanet’s Phil Geiger appeared on BitcoinEthereumNews.com. According to CoinDesk Research’s technical analysis data model, bitcoin BTC$110,138.51 slid to support, snapped back into resistance, and then settled into a tighter range as activity rose around key levels. Technical analysis highlights Path and range: Trading spanned about $4,296, with price probing a $106,391 low and later testing $110,700 before easing. Sell wave: The first leg lower saw 19,395 BTC change hands, described as 78% above typical activity for that phase. Rebound impulse: A V-shaped recovery emerged from the low; a 954 BTC burst helped drive price through a nearby ceiling around $110,500 before profit-taking returned. Larger cap: The model notes four rejections from $117,500 since August, marking a durable ceiling. What the patterns mean Buyers active at the shelf: Repeated responses near $106,400 indicate demand, but overhead supply continues to lean on rebounds. Two-way interest: Accumulation near support met steady selling into strength, keeping trade bounded. Range behavior: The bounce failed to stick above the upper band, leaving price action range-bound while positions reset. Support and resistance map Support: $106,400 first, then $103,000 as a deeper demand zone. Resistance: $110,700 to $114,500 as the near-term cluster. Larger cap: $117,500 remains the level the model has flagged repeatedly since August. Volume picture Initial selloff: 19,395 BTC on the first leg down, about 78% above average for that window. Rebound burst: 954 BTC on the push back through a nearby ceiling, consistent with aggressive dip buying. After the test: Activity cooled as trading compressed into a tight band. Targets and risk framing If buyers press: A clean break above the $110,700 to $114,500 cluster turns focus to the $117,500 cap and, if cleared, the model’s $120,000 to $123,000 extensions. If sellers gain control: A loss of $106,400 exposes $103,000; the model also lists a measured-move risk toward $94,000 to $88,000… The post ‘Ignoring Bitcoin for 17 Years Is the Spookiest Thing,’ Says Metaplanet’s Phil Geiger appeared on BitcoinEthereumNews.com. According to CoinDesk Research’s technical analysis data model, bitcoin BTC$110,138.51 slid to support, snapped back into resistance, and then settled into a tighter range as activity rose around key levels. Technical analysis highlights Path and range: Trading spanned about $4,296, with price probing a $106,391 low and later testing $110,700 before easing. Sell wave: The first leg lower saw 19,395 BTC change hands, described as 78% above typical activity for that phase. Rebound impulse: A V-shaped recovery emerged from the low; a 954 BTC burst helped drive price through a nearby ceiling around $110,500 before profit-taking returned. Larger cap: The model notes four rejections from $117,500 since August, marking a durable ceiling. What the patterns mean Buyers active at the shelf: Repeated responses near $106,400 indicate demand, but overhead supply continues to lean on rebounds. Two-way interest: Accumulation near support met steady selling into strength, keeping trade bounded. Range behavior: The bounce failed to stick above the upper band, leaving price action range-bound while positions reset. Support and resistance map Support: $106,400 first, then $103,000 as a deeper demand zone. Resistance: $110,700 to $114,500 as the near-term cluster. Larger cap: $117,500 remains the level the model has flagged repeatedly since August. Volume picture Initial selloff: 19,395 BTC on the first leg down, about 78% above average for that window. Rebound burst: 954 BTC on the push back through a nearby ceiling, consistent with aggressive dip buying. After the test: Activity cooled as trading compressed into a tight band. Targets and risk framing If buyers press: A clean break above the $110,700 to $114,500 cluster turns focus to the $117,500 cap and, if cleared, the model’s $120,000 to $123,000 extensions. If sellers gain control: A loss of $106,400 exposes $103,000; the model also lists a measured-move risk toward $94,000 to $88,000…
According to CoinDesk Research’s technical analysis data model, bitcoin BTC$110,138.51 slid to support, snapped back into resistance, and then settled into a tighter range as activity rose around key levels.
Technical analysis highlights
- Path and range: Trading spanned about $4,296, with price probing a $106,391 low and later testing $110,700 before easing.
- Sell wave: The first leg lower saw 19,395 BTC change hands, described as 78% above typical activity for that phase.
- Rebound impulse: A V-shaped recovery emerged from the low; a 954 BTC burst helped drive price through a nearby ceiling around $110,500 before profit-taking returned.
- Larger cap: The model notes four rejections from $117,500 since August, marking a durable ceiling.
What the patterns mean
- Buyers active at the shelf: Repeated responses near $106,400 indicate demand, but overhead supply continues to lean on rebounds.
- Two-way interest: Accumulation near support met steady selling into strength, keeping trade bounded.
- Range behavior: The bounce failed to stick above the upper band, leaving price action range-bound while positions reset.
Support and resistance map
- Support: $106,400 first, then $103,000 as a deeper demand zone.
- Resistance: $110,700 to $114,500 as the near-term cluster.
- Larger cap: $117,500 remains the level the model has flagged repeatedly since August.
Volume picture
- Initial selloff: 19,395 BTC on the first leg down, about 78% above average for that window.
- Rebound burst: 954 BTC on the push back through a nearby ceiling, consistent with aggressive dip buying.
- After the test: Activity cooled as trading compressed into a tight band.
Targets and risk framing
- If buyers press: A clean break above the $110,700 to $114,500 cluster turns focus to the $117,500 cap and, if cleared, the model’s $120,000 to $123,000 extensions.
- If sellers gain control: A loss of $106,400 exposes $103,000; the model also lists a measured-move risk toward $94,000 to $88,000 if weakness compounds.
- Tactical takeaway: With two-way flows and a narrower band, many traders look for a decisive break out of the current range before leaning harder.
CoinDesk 5 Index (CD5) context
CD5 climbed from $1,893.76 to $1,920.74, a 3.04% total swing over the session. A breakout occurred around 4 a.m. UTC to $1,924.98, with the index maintaining higher lows above the $1,920 threshold.
Community reaction on X
Halloween 2025 coincided with the 17th anniversary of the release of Satoshi Nakamoto’s Bitcoin white paper, and advocates weighed in.
The Bitcoin Policy Institute urged people not to “fear the ghosts of fiat,” framing bitcoin as an alternative to a failing system.
Metaplanet’s Phil Geiger called ignoring bitcoin “the spookiest thing,” a nod to long-term adoption themes.
Bitcoin Magazine posted a Halloween price history showing bitcoin at $204 in 2013, $6,317 in 2018, $61,318 in 2021, $20,495 in 2022, $70,215 in 2024 and $110,300 in 2025, underscoring long-run gains with sharp drawdowns, and closing with a HODL message.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Source: https://www.coindesk.com/markets/2025/10/31/do-not-fear-ghosts-of-fiat-says-bitcoin-policy-institute-as-bears-lurk-at-resistance
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Top 3 Cryptos That Could Turn $100 Into $5,000 in 2025 – Including This Meme-to-Earn Token’s Game-Changing Potential
Discover 3 cryptos with explosive growth potential - Ethereum, Shiba Inu, and MAGAX. Here’s why early investors are eyeing them for 2025.
Blockchainreporter2025/09/18 07:45 
Sierra Leone's MoCTI partners with Sign to develop blockchain-based digital identity and stablecoin payment infrastructure.
PANews reported on November 10th that Salima Monorma Bah, representative of the Ministry of Communications, Technology and Innovation (MoCTI) of Sierra Leone, a West African country, and Xin Yan, CEO of Sign, signed a Memorandum of Understanding (MoU) to jointly develop blockchain-based digital identity and stablecoin payment infrastructure. This collaboration marks the official launch of Sierra Leone's national blockchain initiative, aiming to provide citizens, businesses, and government services with verifiable digital identities and fast, low-cost domestic transaction solutions. The two parties also plan to establish a crypto-friendly legislative framework to promote the responsible application of blockchain and support future innovation. Furthermore, the collaboration includes designing digital payment systems, asset tokenization technologies and policy foundations, and driving blockchain and AI-driven growth through Felei Tech City.
Why Is Crypto Up Today?
TLDR The US Senate reached a bipartisan deal to end the 40-day government shutdown, the longest in US history Bitcoin jumped above $106,000 and the total crypto market cap increased by $128 billion in 24 hours Ledger is considering an IPO in New York as demand for self-custody wallets grows after $2.17 billion in crypto [...] The post Why Is Crypto Up Today? appeared first on CoinCentral.
Coincentral2025/11/10 15:52 
