Gold Reaches $4,270, Bitcoin Falls Under $110,000: Market Updates for Thursday

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: benzinga_crypto

Updated: Oct 16 2025

BTC+1.394%

SOL-1.743%

ETH-1.255%

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Gold and Silver Surge: Gold and silver reached record highs, with gold at $4,270 per ounce and silver at $53.90, driven by dovish comments from Federal Reserve Governor Christopher Waller regarding potential rate cuts.
Gold Miners Outperform: The VanEck Gold Miners ETF (GDX) saw a significant rise, gaining 12% weekly and 150% year-to-date, outperforming other sectors, including the AI-focused Global X ETF, which is up only 30%.
Mixed Performance on Wall Street: Major indices like the S&P 500 and Dow Jones remained mostly unchanged, while small-cap stocks weakened, as semiconductor stocks gained following positive earnings from Taiwan Semiconductor Manufacturing Co.
Crypto Market Decline: The cryptocurrency market experienced losses, with Bitcoin dropping over 2% to $108,000, marking its third consecutive daily loss, while Ethereum and Solana also saw declines.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	36099.581	48049.791	60369.601	72319.811	84639.621	96589.831	108909.641
Fibonacci	48049.791	57320.938	63048.663	72319.811	81590.958	87318.683	96589.831

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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