The crypto market is once again showing weakness amid macroeconomic uncertainty ahead of the upcoming meeting between Donald Trump and Xi Jinping.
After a brief recovery on October 20, prices turned negative again. Bitcoin (BTC) trades around $107,885 — down 2.4% from the previous day. Ethereum (ETH) dropped 4.5% to $3,865. The main pressure comes from ongoing fears surrounding the U.S.–China trade war. While the leaders of both countries are set to meet in South Korea at the end of October, a concrete agreement still seems unlikely.
The market sentiment index sits at 33 out of 100, firmly in the “fear” zone — a level last seen in April 2025, when Bitcoin fell below $80,000 before reversing upward. The crypto RSI also suggests a potential bottom, with an average of 41.74, indicating a slightly oversold condition.
Bears think $126k was the top, and btc will fall below $100k, and 2026 will be a bear market mainly because ... the 4 year cycle!?
— PlanB (@100trillionUSD) October 20, 2025
IMO that is a BIG misunderstanding. Yes, there is a 4y halving cycle that doubles S2F-ratio, and 6 months before until 18 months after a halving was… pic.twitter.com/tehnZ4rRab
Renowned crypto analyst PlanB, author of the Stock-to-Flow model, believes the bull market is far from over:
“Bears think the top was at $126,000 and that Bitcoin will fall below $100,000, marking the start of a bear market in 2026 due to the four-year cycle. In my opinion, that’s a big misunderstanding.”
According to him, three previous cycles are not enough to draw reliable conclusions:
“There is no guarantee that the next top will occur 18 months after the halving. It could happen in 2026, 2027, or even as late as 2028.”
PlanB emphasizes that Bitcoin works best as a long-term investment vehicle.