Key Takeaways
- Bitcoin has a very high bearish momentum.
- The market sentiment is largely uncertain, with fear dominating investors.
- There are critical support levels, which, if breached, can cause Bitcoin to fall further.
- $120,000 is posing as a serious resistance to the Bitcoin bull run.
It seems that the Bitcoin rally post the brief but renewed confidence in the macroeconomic factors is coming to an end. Bitcoin, whose rally ended sooner than expected, had fallen below the $105,000 support level.
With prices gaining a bearish pace, it is expected that if Bitcoin continues on this path, the BTC bearish pace may continue. This becomes an evident fact that if Bitcoin is unable to break the resistance posed at the $103,000 level, the bears will own the market.
Bitcoin Price and Other Parameters
| Current Price | $102,170 |
|---|---|
| Market Capitalization | 2.03 Trillion US dollars |
| Volume | 122.73 Billion US dollars |
| Fear & Greed Index | 23 – Extreme Fear |
Bitcoin Short-Term Price Prediction
| Date | Daily Low | Daily High | Daily Average |
|---|---|---|---|
| 06/11/2025 | $98,780.24 | $99,723.37 | $99,251.81 |
| 07/11/2025 | $99,321.37 | $100,751.18 | $100,036.28 |
| 08/11/2025 | $100,125.67 | $100,440.9 | $100,283.29 |
The Bearish Tuesday For Bitcoin
On Tuesday, November 4th, Bitcoin saw a huge bear run with consequent mass liquidations of leveraged positions. There was an estimated 1.3 billion US dollar worth of mass liquidations across various leveraged platforms.
The most alarming part of this event was that these liquidations happened within a 24-hour timeframe, indicating how volatile the price had gotten within that timeframe. These incidents drove the Bitcoin Fear and Greed Index to a low value of 21, indicating extreme fear.
From an all-time high of $126,000, Bitcoin dropped almost 17%. It is this massive fall that has triggered an industry-wide panic attack. Before Tuesday’s crash, Bitcoin was trading around $111,000. However, the failure to maintain the price above that mark led to a huge fall, and by Tuesday, Bitcoin was in dangerous waters.
Traders rapidly pulled away, triggering a risk-off mood, which led to increased volatility amidst the loss of liquidity.
Implications of The Bear Run On Today’s Performance
Even though the Fear & Greed Index has marginally increased from Tuesday’s 21 to 23 today, the overall market sentiment echoes extreme fear. This could largely be attributed to the steady and continuous fall of Bitcoin.
Even though Bitcoin is the leading cryptocurrency amidst all the negative remarks from the fall, it will not be an easy recovery for Bitcoin. DonAlt is one of the industry’s most followed public traders. His outlook on the matter shatters every bullish narrative that is currently circulating regarding Bitcoin’s comeback.
According to DonAlt, the resistance level at $120,000 is a key barrier for Bitcoin’s comeback. Add to this the weak support offered by $93,900 and $87,300, and forget the comeback. A deeper and much more critical drop could be what awaits Bitcoin in the coming days.
From what we could find after analyzing DonAlt’s chart, it seems that there is little to no buy pressure in the market. Every fall is predominantly strong, and there are fewer buyers with each dip. This reluctance to enter the market during a price dip is soon becoming a dangerous situation for Bitcoin. The lack of buyers will drive the price downwards further, with a loss of liquidity in the market.
What if Bitcoin Breached The Key Support
According to DonAlt, the range of $93,900 to $87,000 is of much importance. Bitcoin is yet to break below $87,000. It is this reason why this range becomes something of paramount importance. This range remains as the decision corridor, and breaching this key support could mean that Bitcoin could fall further down into the low $80,000 levels.
If we were to summarize the findings of DonAlt, we would find that the $87,000 support is a vital point. At the moment, this support looks rather fragile and one that can be easily broken through. However, if Bitcoin can hold itself above this support level, it could potentially avoid a crypto winter and restart its bullish run.
This “expected” bull run could be a slow and steady climb if the $87,000 support is not breached. If Bitcoin rises back to $120,000 level, it can signal a journey towards the newer highs like $135,000.
Final Thoughts – Bitcoin Price Prediction
In summarizing all that is mentioned above, we find that the current bearish trend signals a very volatile market whose basic sentiment is uncertainty and fear. The price hovering around the $102,000 mark is a noteworthy point. If Bitcoin can maintain this level steadily, there might be a comeback at some point in the near future. However, the $93,900 to $87,000 support level is a key point as breaching it could lead to a total crypto winter for Bitcoin.
| Disclaimer: These crypto price forecasts are based on predictive modeling and should not be considered financial advice. |