Related Articles
Bitcoin teeters on the brink! The $104,480 mark proved to be a mirage as the price plunged, shattering the 2025 uptrend’s lifeline. A year-long symmetrical pattern crumbled, unleashing a wave of uncertainty. All eyes are now glued to the $100,000 psychological barrier – will it hold? The market’s energy is draining as leveraged bets are cashed out. Where are the bulls? Their absence is deafening.
Price Tests Long Term Trendline As EMAs Flip Into Resistance
BTC Price Action (Source: TradingView)
Bitcoin’s rally slammed into a brick wall, unable to punch through resistance clustered around $112,000 where the 20-day and 50-day EMAs lurk. These key moving averages rebuffed the price advance in a one-two punch, signaling a clear shift: bears are back in charge. What was once hoped to be a launchpad at the 100-day EMA near $110,250 is now proving to be a stubborn lid on any upside attempts. The bulls are on the defensive.
Bitcoin’s safety net, the rising trendline that faithfully caught every major fall since April, has snapped. The bears are out for blood, emboldened by the breach. All eyes are now on the 200-day EMA, a last stand at roughly $108,355. Should it crumble, Bitcoin stares down a slippery slope towards the $102,000 and then the psychological barrier of $100,000. The battleground between $108,000 and $110,000 will determine Bitcoin’s fate: a temporary setback, or a full-blown trend reversal.
“$100,000 breached? Brace for impact. $96,500 is the last line of defense. Bulls, watch closely. But hold on – a false breakdown above $112,000 transforms the chart into a bear trap, spring-loading a powerful rally towards $116,000, with $124,000 as the ultimate prize.”
Spot Outflows Signal Reduced Demand
BTC Netflows (Source: Coinglass)
Coinglass data paints a clear picture: November 4th saw a significant $162.07 million exodus from exchanges, continuing a multiweek bleed. These persistent outflows suggest a shift in investor sentiment. Are traders losing their nerve and pulling their assets offline? Or is this a strategic accumulation play, a sign that savvy investors are hunkering down for the long haul? The movement of coins off exchanges hints at a cooling desire for rapidfire trading, potentially signaling a more conservative, accumulationfocused market phase.
Since August, the On Balance Volume line has been stuck in neutral, hinting at underlying weakness. The market pullback hasn’t sparked a rush to buy, a concerning sign. Without strong buying pressure fueling rallies, they fizzle out fast – each recovery attempt faltering near the EMA cluster, a testament to the anemic inflows.
Derivatives Market Shows Long Positions Unwinding
BTC Derivative Analysis (Source: Coinglass)
Spot market woes are echoing in the futures arena, painting a bleak picture for crypto bulls. Open interest has plummeted 4.17% to $68.20 billion, a clear sign investors are running for the exits, unwinding positions instead of doubling down. The carnage? A staggering $382.73 million in long liquidations in the last 12 hours alone, proving forced selling is fueling this dramatic market slide.
Futures and options markets saw a surge, catapulting to $125.78 billion and $7.05 billion respectively, a move whispering of cautious hedging strategies, not bold accumulation. Funding rates are flatlining across leading exchanges, painting a picture of traders bracing for impact, shields raised, rather than swords drawn. The mood? Defensively poised, far from a bullish charge.
Outlook. Will Bitcoin Go Up?
Bitcoin’s fate hangs in the balance over the next 72 hours. A battle is raging around the critical $100,000-$102,000 stronghold. Bears breach that line, and the entire foundation crumbles. Bulls, however, must seize control. A surge past the $112,000 EMA cluster acts as a flare, signaling a renewed rally towards $116,000 and beyond. The key? Spot inflows. A return to positive territory confirms the bulls’ charge, proving the recent dip was nothing more than a calculated shakeout before the next surge.
Bitcoin teeters on a knife’s edge. A slip below $100K unleashes the bears, targeting $96,500 and potentially morphing this dip into a full-blown correction. Long-term, the King remains bullish, but right now, the short-term belongs to the sellers. Bulls need to conquer $112,000 to regain control, otherwise, brace for further downside.
Heads Up! This article is for your information and education only. Think of it as a map, not a compass. We’re not giving financial advice here, and Coin Edition isn’t responsible if your crypto journey takes a detour based on something you read. So, buckle up, do your own research, and navigate wisely before making any decisions. Your wallet will thank you.
Thanks for reading Bitcoin Price Prediction: Exchange Outflows Hit $162M as BTC Loses Trendline Support
