Bitcoin saw a turbulent week, slipping below $100,000, hitting a six-month low. The cryptocurrency is 20% off its all-time high, with early adopters selling off large holdings. A massive liquidation of leveraged positions on Oct. 10 caused further market pressure. Analysts suggest a potential bear market with a buyable bottom still weeks away.

10X Research predicts a potential correction to $70,000 as OG investors sell at the cycle’s peak. Dollar strength and lack of buyer support may further drive down prices. Positive catalysts like a Federal Reserve rate cut and government reopening could boost crypto markets. Federal Reserve Chair Jerome Powell’s term end could lead to more dovish leadership.

Read more at Yahoo Finance: Bitcoin slumps nearly 20% from all-time high as strategist warns ‘we could correct quite a bit more’