Cryptocurrency Markets Trade Lower to Start the New Week after Record Inflows into Bitcoin ETFs Last Week

Notable Statistics: Notable Developments: Top Losers: Trader Notes: With Bitcoin prices dropping 4%, crypto trader Scient thinks panic is already

Cryptocurrency markets are seen lower Monday evening after last week's record inflows into Bitcoin ETFs.

Bitcoin prices are down 4%, and crypto trader Scient says panic is already hitting all-time highs. He outlined two scenarios for the upcoming price movement: Bearish and Bullish, clarifying the direction will be out in next 24 or 48 hours.

$BTC, So we are testing the daily block block here and Panic is already hitting ATHs.

Simply observe here for the next swing move.

Bearish: If we get a 1D close below the block ($63000), We likely see $59000.

Bullish: If we continue to consolidate above the OB box, We likely… https://t.co/mV1VTcWfFm pic.twitter.com/S09K3y1Q25

Another crypto trader, Ted Pillows, marks this as a Bitcoin bullish retest. He stated, "Nothing goes up forever, and corrections are needed to flush the overleveraged longs." He expects a reversal soon.

Meanwhile, Trader CJ also suggests two possible outcomes for Bitcoin's price at the end of September.

He stated that a close at $65,594 or higher signals a strong bullish trend, with Bitcoin expected to enter a “super cycle” that could push it to $100,000 in Q4. Positive momentum is driven by institutional and political factors.

On the other hand, a close at $65,592 or lower is a bearish scenario where institutions have been offloading their Bitcoin holdings. This could lead to a potential drop below $30,000. In this case, short positions are recommended as further declines are anticipated.

The upcoming Benzinga Future of Digital Assets event on Nov. 19 will thoroughly explore the influence of Bitcoin as an institutional asset class.