Bitcoin (BTC) Risks Dropping to $72,500, But That Could Be a Blessing in Disguise: Analyst

Bitcoin fell below $80,000 after nearing $85,000 last week, and analyst Ali Martinez warned the correction could deepen to a two-month low of $72,500 if $82,000 remains resistance. Martinez called that a buying opportunity and advised taking profits in late October before possibly re-entering at $73,000 after the November 3 US midterm elections, noting Bitcoin fell after the 2010, 2014, 2018 and 2022 votes. Analyst Crypto with Harris ₿ identified $79,200 as immediate support and said a break could send Bitcoin to $75,000-$72,000 and possibly $62,000 before a rebound above $90,000. X user Sweep said the daily Relative Strength Index matches its August level while 40 new wallets withdrew over $770 million in Bitcoin between October 1 and October 23.