Bitcoin dipped below $81,000 on Oct. 22 before recovering part of the loss. Benjamin Cowen says a daily close under the 50-day simple moving average would likely send it toward the bull market support band, while a Polymarket contract on a $130,000 price shows 3% odds.
Bitcoin fell to $80,989 on CoinGecko after reaching $84,788 over the past 24 hours. It later recovered to $81,305, still down 3.5% on the day, which put $80,000 back in focus.
Ether stayed below $2,400, and CoinGecko recorded ETH at $2,380.48, down 4.4% over 24 hours.
Cowen ties his warning to the daily close
In an Oct. 22 X post, Benjamin Cowen said a daily close below the 50-day simple moving average would likely send Bitcoin to the bull market support band. His chart showed Bitcoin near $81,098 while the daily candle was still trading.
Cowen also said Ethereum, Strategy shares, the Nasdaq and the TOTAL2 and TOTAL3 crypto market indexes were already at their respective bull market support bands. He gave no separate numerical targets for them.
A trader keeps buy orders below the market
A trader known as Mr. Wall Street took a more optimistic line in a separate Oct. 22 post. He said he was holding Bitcoin bought between $60,000 and $64,000 and described the recent trading range as $80,000–$87,000.
He also said he had buy orders between $72,000 and $76,000 and named $93,000 as his first upside target, without giving a date. The post did not say any of those orders had executed.
Prediction market sees 3% odds of $130,000
The Kobeissi Letter pointed to a Polymarket contract asking whether Bitcoin would hit $130,000 in 2026. The screenshot showed a 3% probability, about $77.6 million in volume and a Dec. 31, 2026 end date.
Source: crypto.news
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