Bitcoin News Update: Retail Investors Panic While Institutions Accumulate as Bitcoin Challenges $106K Support Level

On October 30, 2025, Bitcoin slipped under $100,000 for the first time in half a year, underscoring the heightened turbulence in the cryptocurrency market. This drop, which represents a 19% decrease from its all-time peak of $125,835.92 earlier in October, has fueled ongoing debates about the potential for further declines. Both analysts and traders are now monitoring closely to see if

will challenge key support at $106,600 or possibly fall toward the $70,000 mark, as projected by Elliott Wave models and venture capital outlooks, according to .

The recent downturn has been worsened by significant withdrawals from Bitcoin exchange-traded funds (ETFs), which saw $488.43 million in outflows on October 30, with BlackRock’s IBIT ETF leading the redemptions, as reported by

. These ETF outflows highlight the prevailing uncertainty in the market, especially after Bitcoin failed to break through the $114,000 resistance—a level it has struggled with since late October. Despite this, institutional players remain active, with one investment firm acquiring 397 BTC for $45.6 million at an average price of $114,771, reflecting a divergence between cautious retail investors and confident institutions.

Market technicians are increasingly relying on Elliott Wave analysis to predict Bitcoin’s next moves. Vineet Budki, CEO of Sigma Capital, cautioned that the current four-year cycle for Bitcoin is still ongoing, forecasting a potential 65%-70% correction over the next two years, as cited by Cointelegraph. He attributes this outlook to investor sentiment, suggesting that many holders lack a deep understanding of Bitcoin’s value, which can trigger panic selling during downturns. “Bitcoin’s utility won’t disappear if its price drops to $70,000,” Budki noted, but he stressed that short-term price swings are driven more by market mood than by fundamentals.

The recent weakness in Bitcoin’s price has also affected the wider crypto sector. Despite the decline, Bitcoin miners such as Marathon Digital Holdings (MARA) posted record third-quarter revenues, according to

, demonstrating the industry’s ability to withstand volatility. In contrast, alternative cryptocurrencies like (LTC) and (SOL) have come under pressure, sparking debate among analysts about whether they will mirror Bitcoin’s trajectory. The proposal of VanEck’s JitoSOL ETF, designed to give investors access to Solana’s staking rewards, points to sustained institutional interest in crypto assets, even amid price swings, according to .

Regulatory shifts continue to play a pivotal role. Updates to the U.S. Securities and Exchange Commission’s regulatory agenda and state-level initiatives, such as Wyoming’s plan to introduce a stablecoin, have contributed to a more supportive climate for digital assets, as highlighted in a

. Nevertheless, these positive developments have not been enough to counteract recent market challenges, with Bitcoin’s price fluctuating between $67,839.67 and $124,714.85 so far this year, as the same TradingView report notes.

As the market processes these factors, the outlook remains unpredictable. Some market participants see the current dip as a chance to buy, while others caution that further declines may be ahead. The next few weeks will be crucial in determining whether Bitcoin can maintain support above $106,600—a threshold that could decide if the present slump turns into a prolonged bear phase.