Bitcoin Expected to Gain as U.S. Banks Face Renewed Pressure

Bitcoin expected to gain as U.S. banks face renewed pressure. Several regional banks in the United States are showing fresh signs of weakness, sparking concerns that the 2023 banking crisis could return. Despite government support and mergers meant to restore confidence, analysts warn that growing loan losses and falling share prices expose deeper financial risks. Jack Mallers, CEO of Strike, noted that Bitcoin’s current movement mirrors rising concern over a possible liquidity shortage.

Jack Mallers explained that if the Federal Reserve injects more money to stabilize markets, Bitcoin will likely react first because it responds quickly to shifts in global liquidity. Market watchers argue that the 2023 crisis never truly ended but was only delayed through temporary fixes. As traditional banks struggle to maintain stability, many investors may view Bitcoin as a safer alternative against inflation and fiat currency weakness. This renewed uncertainty could fuel a sustained bullish phase for the world’s leading cryptocurrency.

Key Bitcoin Levels To Watch – October 19

Resistance Levels: $118,000, $124,530, $130,000

Support Levels: $102,110, $85,010, $74,420

https://www.tradingview.com/x/fU8L1gEX

BTCUSD is currently showing signs of a potential bullish reversal as price approaches the order block region around $102,100. The RSI is hovering near the oversold zone, indicating possible exhaustion of selling momentum.

The 9-day SMA is slightly above the current price, suggesting that a break above it could confirm renewed upward strength. If bullish momentum holds, price could rally toward the next resistance levels at $117,990 and $124,530.

Total Market Capitalisation: $3.62T

Bitcoin Market Capitalisation: $2.13T

Bitcoin Volume: $59.46B

Market Rank: #1