Bitcoin set for ‘blow-off top’ after devastating crash, experts predict

News Snapshot:

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...