Despite current bearish sentiment, experts see Bitcoin’s (BTC) short-term crash as a temporary setback, with the asset poised for further gains.
With Bitcoin nearing the $110,000 support level, analysts believe it could be headed for a blow-off top, a rapid, steep price surge driven by frenzied buying, typically followed by a sharp correction.
Specifically, in an X post on October 11, Glassnode co-founders Jan Happel and Yann Alleman, who use the pseudonym Negentropic, noted that the flash crash highlights Bitcoin’s resilience.
Their outlook pointed to a short-term breakdown at $118,000 but emphasized that this event is only a temporary bump in the road. They predict that volatility will persist over the coming days, but prices are likely to climb higher by the end of the month.
As things stand, bulls need to step in to help Bitcoin maintain the $110,000 support level for room to reclaim the $115,000 resistance zone.
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