Important points:
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Bitcoin remains volatile as it opens on Wall Street, with $110,000 re-emerging.
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Returning to the 21-week moving average is now important, and liquidity conditions are increasing around prices.
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Gold prices fall in a rematch with record highs.
Bitcoin (BTC) buyers and sellers battled for dominance in Wall Street trading on Tuesday as the price of gold fell sharply.
Bitcoin rebounds after rematch with CME Futures Gap
Data from Cointelegraph Markets Pro and TradingView showed that BTC price volatility is heating up.
BTC/USD reversed higher and passed the $110,000 milestone after falling towards (but not closing) the weekend gap in the CME Group Bitcoin futures market.
The pair surfed changes in liquidity conditions on the exchange’s order book, with both buys and sells coming and going as companies sought to influence price performance.
Data from monitoring resource CoinGlass revealed that overall liquidity is thickening around spot prices.
“It’s been a long time since liquidations have been like this with funding rates near negative territory,” trader Luca wrote in a post on
The post mentions funding rates across derivatives exchanges, indicating risk-off sentiment among traders, with further declines expected across the board.
Both Mr. Luca and others noted that there is a large potential price “magnet” in the form of an ask above $116,000.
Meanwhile, trader and analyst Recto Capital cautioned the 21-week exponential moving average (EMA) as the key resistance level for bulls to overcome.
“Bitcoin has found resistance at the 21-week EMA (green) for now, pushing the price back into historical demand territory (orange),” he wrote alongside the chart.
“Bitcoin needs to continue to hold orange as support to not only sustain potential early highs and lows, but also position itself for the subsequent 21-week EMA recovery.”
Gold’s “double top” comes into view as daily decline reaches 5%
The day’s volatility wasn’t just limited to the crypto market.
Related: Ethereum falls above $4,000 again as traders grow frustrated with shakeout
Gold, which had hit all-time highs in recent days, is now at risk of a ‘double top’ bearish trend reversal, with losses of more than 5.5% per day.
$gold. Will EQH be a double top? In that case, the goal will be around 4K. pic.twitter.com/qlh7qm2x21
— HTL-NL 🇳🇱 (@htltimor) October 21, 2025
James Stanley, senior strategist at Forex.com, is among those who expect a retest of $4,000 if this structure works.
“If the neckline breaks and price clears the expected move, it’s a 4k test,” he told his X followers in part of the latest X analysis featuring the Fibonacci retracement level.
Trader Crypto Tony suggested that Bitcoin and altcoins could ultimately benefit from a subsidence in gold’s historic bull market.
“In times of uncertainty, riskier asset classes take on greater weight, and gold is at the top of this chain,” he wrote in X, believing that gold is responsible for cryptocurrencies’ poor performance.
“If this rebounds, we can expect a crypto boom.”
This article does not contain investment advice or recommendations. All investment and trading moves involve risk and readers should conduct their own research when making decisions.