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- Bitcoin drops toward $100K as SpaceX moves $268M in BTC and analysts warn of macro risks.
Bitcoin drops toward $100K as SpaceX moves $268M in BTC and analysts warn of macro risks.
Bitcoin dropped 2.5% as futures gaps widen, while SpaceX shifts hundreds of millions in BTC. Analysts warn that the next crypto downturn could mirror past global recessions.
Joe G & Money Talks
October 21, 2025 • Estimated Reading Time: 5 minutes
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What we will talk about today...
Bitcoin dips 2.5% while CME gap looms
SpaceX transfers $268M in Bitcoin
Analyst warns next bear market could mirror 2008
Bitcoin fell to $107,460 after giving up early gains, raising fears of a deeper slide.
$BTC is now at a key support level.
If $107,000-$108,000 support level holds, a bounceback could happen.
If Bitcoin loses this level, it could drop towards $100,000 in the coming days.
— Ted (@TedPillows)
8:08 AM • Oct 21, 2025
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$BTC Held the green box where it should have. Also trading back above the Daily 200MA & EMA.
The bulls would want to hold $107K going forward. If this were to start grinding back down, and get close to last Friday's wick, then that'd just show a lot of weakness to me.
— Daan Crypto Trades (@DaanCrypto)
8:02 PM • Oct 20, 2025
[Price gap]: Bitcoin futures closed higher Friday and reopened lower Monday, leaving a price gap near $107,390.
[Support risk]: Traders say if Bitcoin falls below $107K, it could retest $100K or lower.
[Volume issue]: Analysts warn weak trading volume shows limited buyer strength.
$BTC Opened with a small CME gap below this week. Price did come down to close some of it, but there's still a bit left. So good to keep that in mind if price were to trade close to it.
Besides that, we did close the big gap at $110K last week. This was a gap that was left
— Daan Crypto Trades (@DaanCrypto)
1:07 PM • Oct 20, 2025
“The bulls would want to hold $107K going forward,” said trader Daan Crypto Trades.
“100–98K here we come,” added trader Roman.
SpaceX transfers $268M in Bitcoin
A SpaceX wallet moved 2,495 BTC worth $268 million in its first major on-chain transaction in three months.
[Transaction detail]: The company’s wallet still holds 5,790 BTC valued at $625 million.
[Market context]: The move came as Bitcoin dropped below $108,000 amid global trade tension and ETF outflows.
[Investor trend]: U.S. spot Bitcoin ETFs saw $40M in outflows Monday, led by $100M from BlackRock’s fund.
“Large corporate movements like SpaceX’s remind traders that even long-term holders adjust positions during uncertainty,” said a market strategist.
Analyst warns next bear market could mirror 2008
Willy Woo predicts the next crypto bear market could be triggered by an economic downturn similar to the 2008 crisis.
[Cycle shift]: Past crypto cycles followed Bitcoin halvings and money supply growth, but Woo says the next will track a business recession.
[Historical risk]: The 2001 and 2008 recessions caused U.S. stocks to drop 50–56%, draining liquidity.
[Liquidity impact]: Woo warns a similar downturn would hit crypto markets, testing Bitcoin’s ability to act as a safe asset.
“If we get a biz cycle downturn, like 2001 or 2008, it will test how BTC trades,” said Woo.
“Either BTC is saying the top is in, or BTC is going to catch up.”
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