Bitcoin Rainbow Chart is warning BTC could crash below $60,000 in November

The Bitcoin Rainbow Chart points to a potential 27% correction toward $59,000 in early November as the cryptocurrency struggles to recover above $82,000. At its press-time price of $81,703, BTC would need to lose about $22,670 to reach $59,033, according to the Coinglass Bitcoin Rainbow Chart. The indicator uses a logarithmic growth curve and nine color-coded valuation zones to assess Bitcoin’s price against its historical trend. For November 2, 2026, the blue Fire Sale! zone stands at $111,536, indicating extreme undervaluation relative to the model’s trend. The BUY! level at $151,600 suggests an attractive entry point, while the green Accumulate zone at $208,115 signals a potential opportunity to build exposure gradually. The light-green Still Cheap level at $280,956 indicates that BTC remains relatively inexpensive under the model.

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