Bitcoin Analyst Sees Path to $90K by Early November Amid Market Turmoil

Analyst Matthew Hyland is calling for Bitcoin to surge above $90,000 by early November. According to him, Bitcoin has reached a daily cycle low with a bullish divergence forming on the charts. This setup could potentially lead to a significant price increase.

Despite most market voices being bearish, Hyland believes that prices look solid and that there is not much liquidity below $75,000. He points out that current prices are a 'liquidity grab' and that the RSI could fall further. However, he remains bullish on Bitcoin's prospects.

Fellow analyst Crypto Patel has been calling for a bearish move since Bitcoin fell from $82,500 to around $74,900 after being rejected near an $83,000 bearish order block on the daily chart. He is holding a target of $50,000 unless Bitcoin closes above $83,000 on a higher timeframe.

CryptoQuant contributor IT Tech has taken a different approach, focusing on Bitcoin holdings rather than price structure. They point out that the 6- to 12-month supply band has climbed to 30.8% of realized cap, up from 16.2% in December last year. This pattern is said to line up with the last three Bitcoin bottoms.