Crypto markets saw a boost after the recent inflation report, but escalating tensions between the U.S. and China are dampening trader enthusiasm. Analyst Martinez warns of a potential downfall for Bitcoin, predicting a 70% drop according to a MACD signal. He cites several factors as contributing to this prediction: a looming meeting between Trump and Xi, who are expected to meet on Thursday with negotiations potentially failing by November 1st; the possibility of reciprocal tariffs between both nations and US threats of further tariffs if negotiations fail; and concerns about global trade tensions and Russian sanctions impacting inflation expectations during the upcoming Federal Reserve interest rate decision. Meanwhile, Bitcoin struggles to hold its $110,500 support, with a potential drop below $107,000 threatening a 1.5-year uptrend. Martinez’s analysis is based on historical data and the MACD’s downward trend on the monthly chart. While he is intrigued by the validity of his prediction, he also acknowledges the possibility of Bitcoin challenging $150k+ this year, should it reach such heights. The potential for a downturn has sparked a discussion about Pengu Coin as a short-selling opportunity. Analyst Sherpa recently highlighted a Pengu forecast suggesting its performance might outperform expectations by quarter’s end; however, he advises caution, urging readers to evaluate the chart’s support levels before adopting any strategy.