Bitcoin (BTC) is trading near $103,000 this November 4. Markets are on edge for a potential break below $100,000. Bitcoin and Gold volatility ahead of tariff decision is increasing. The market awaits a U.S. Supreme Court ruling this Wednesday.
The digital asset is testing the key support zone between $102,120 and $98,200. Simultaneously, Gold (XAU) is also showing weakness. The precious metal lost the psychological $4,000 level. Silver (XAG) is facing strong resistance between $48.08 and $49.76. The widespread uncertainty stems from the upcoming Supreme Court decision on the legality of Trump’s tariffs.
Bearish pressure on Bitcoin is reinforced by technical indicators. Bearish volume profiles are dominating the price action. Furthermore, the Relative Strength Index (RSI) is posting lower highs, suggesting diminishing buying strength. Treasury Secretary Scott Bessent called the situation an “economic emergency” in an interview with Fox. In gold’s case, the pullback is attributed to fading expectations for further Fed rate cuts in 2025. Several Fed officials pushed back against another cut in December. The CME FedWatch Tool shows a 69.9% probability of cuts, down from 90%+ last week.
Can the psychological supports at $100,000 and $4,000 stop the slide?
If Bitcoin closes a daily candle below $100,300, the demand zone’s midline, it could confirm the downtrend. This would clear the path for a further decline, with $93,708 as the next support target. For gold, if the $3,938 support fails to hold, a drop below $3,915 could extend the losses. Analysts see targets at $3,899 or even $3,886. Silver could follow gold, seeking support at $46.24 (38.2% Fibonacci retracement). The global economy is closely watching these safe-haven asset movements.
Nonetheless, a bullish counterpoint exists for Bitcoin. The RSI is approaching oversold levels (near 35), a point that has historically preceded rebounds. If buying pressure increases, BTC could reverse the trend. However, only a decisive close above $123,891 would signal a potential push for new all-time highs. Investors remain cautious. The Bitcoin and Gold volatility ahead of tariff decision will be the dominant factor in the next 48 horas.
