The cryptocurrency market enjoyed a short-lived rebound before sellers regained control over the past several hours. Some leading digital assets, including Bitcoin (BTC), Hyperliquid (HYPE), and Zcash (ZEC), were not spared in the latest pullback, all of which entered red territory.
However, key indicators suggest they might soon recover the losses and head north.
BTC to Bounce Back?
Just hours ago, the primary cryptocurrency looked ready to reclaim $85,000, but it was rejected and now trades near $81,700 (per CoinGecko). Analyst Ali Martinez noted that as it approached $85K, the TD Sequential flashed a sell signal, foreshadowing the correction that followed.
He said the same indicator has now printed a buy signal, suggesting the pullback may be nearing its end and potentially setting the stage for a recovery.
Other popular market observers who commented on BTC’s recent performance include Wealthmanager and Joep Gerla. The former said the price is heading toward rising support around $81,500, and if buyers defend it, $83,500 and $85,000 come back into play.
Joep Gerla noted that BTC got rejected near $85,000 at the top of the volume profile, adding that the structure stays bullish as long as the price remains above $80,000.
“Lose $80K, and it weakens,” he warned.
Renewed institutional demand supports the bullish view. After a period of heavy outflows, spot BTC ETFs posted three green days in a row, suggesting pension funds, hedge funds, and other conservative investors are once again increasing their exposure to the asset. In fact, the inflows in the past 24 hours reached nearly $530 million, the highest figure in the last month.
HYPE and ZEC
Hyperliquid’s native token jumped to almost $82 yesterday (October 21), but is currently worth just under $78. Martinez said a TD Sequential sell signal appeared around its local top, and the same indicator has now flipped bullish.
“If $78 holds, HYPE could rebound toward $82 or higher,” he predicted.
The privacy coin ZEC also rallied substantially and briefly surged above $1,360. Martinez explained that, as with BTC and HYPE, a TD Sequential sell signal acted as an early warning of the pullback that later dragged the asset to its current value of around $1,240.
“With a buy signal now flashing, I’m watching the $1,250 support. If it holds, ZEC could rebound toward $1,350,” the analyst concluded.
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