The Bitcoin & Cryptocurrency Investment Show podcast.
Welcome back to The Bitcoin & Cryptocurrency Investment Show, I’m Crypto Willy, your tech-savvy best bud guiding you through the wild world of digital assets. Strap in, because this last week has been a rollercoaster for crypto investors—so let’s break it all down.
The big headline shaking the space: the U.S. government just pulled off the largest crypto confiscation in history, seizing a jaw-dropping $15 billion worth of Bitcoin. This move sent shockwaves across the globe and left heavyweights like Bitcoin and XRP under intense scrutiny. Experts and folks on Twitter are downright jittery, worried about what this means for asset security, unregulated wallets, and honestly—government overreach on private digital property. There’s a ton of talk about trust and safety in storing crypto, and people like Michael Saylor and Cathie Wood have weighed in, calling for tighter self-custody and better security protocols. Investor confidence took a serious gut punch, and a lot of longtime holders are rethinking how—and where—they store their crypto.
Despite the jitters, Bitcoin pushed right through some serious volatility. On October 17th, BTC hit a local low around $103,600, but as of now it’s back over $110,000—a solid 7% bounce. That’s classic Bitcoin: scare the crowd, then recover just when everyone’s looking the other way. But analysts over at CoinCodex and Changelly are still split: some short-term predictions see Bitcoin heading for the $125,000 range by the end of October, while bearish experts like Omkar Godbole from the Elliott Wave camp warn that we could see a correction all the way down to $70,000 if the mood sours and the bull market loses steam.
Short-term, though? The BTC futures market is eyeing recovery. Open interest has climbed back above $26 billion, which means the pros are gradually stepping back into the ring, and funding rates have shifted to neutral or positive after a bruising wave of liquidations. That liquidation spree was brutal: traders saw $320 million wiped out in 24 hours—mostly on the long side—but OKX and other exchanges are showing increasing appetite for risk. Options traders, with their eye on future volatility, are loading up on calls, betting big on another rally.
For those following support and resistance levels: $108,300 is the key support right now, with resistance at $112,180 and up. Sentiment is still a little shaky, with the "Fear & Greed" index hovering in cautious "Fear," but you know how quickly that can flip to greed in the crypto space.
And what about potential black swan events? The government’s seizure is not just a headline, it’s a warning to anyone holding funds in centralized exchanges or custodial wallets. There’s a big push toward hardware wallets and decentralization, and I’d expect to see even more innovation in cold storage and privacy tech as a direct result.
That wraps this wild week—thanks for tuning in to The Bitcoin & Cryptocurrency Investment Show, I’m Crypto Willy, always keeping it nerdy and neighborly. Make sure to come back next week for more insights. This has been a Quiet Please production. To keep up with me and the Quiet Please team, check out QuietPlease.ai. Stay sharp, stay decentralized!
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