Bitcoin avoided a sharp short-term drop, but its stability remains fragile. According to a market record on 6 Nov. 2025, the price hovered around $103,047.73, a level that for now contains selling pressure. Technical validation requires a rise to $115,413.46, roughly 12% above the observed level.
The quote sits above recent supports but lost the 365-day moving average weeks ago, a signal that cautions about a potential cycle change. In this framework, the technical target for Bitcoin to calm tension is $115,413.46, marking the threshold for regaining key levels.
Liquidity metrics reflect nervousness, with 24-hour volume between $28.55 billion and $45.69 billion. The circulating supply remains near 19.94 million BTC and the approximate market capitalization at $2.05 trillion, figures that underscore the asset’s scale and its impact on institutional and retail portfolios.
Price structure highlights immediate resistances at $106,000–$107,000. A close above $106,134 could open the way toward $108,000; if $102,000 is not recovered, the downside levels to monitor are $98,100, $93,500 and a liquidation threshold around $91,502.
Sentiment has deteriorated to “Extreme Fear” (~23) even as large holders accumulate. In market terms, “whales” are buying the dip, aligning with an increase in Bitcoin’s market share to 60.07% and sidelining episodes of “altcoin season.”
Implications
A 12% recovery is a technical requirement to reduce immediate bearish risk. Without that advance toward $115,413.46, the probability of renewed tests to lower supports persists. Liquidity and volatility point to wide moves in short periods, as the turnover range suggests rapid price swings that can accelerate both rallies and pullbacks.
Risk management is critical given the presence of technical liquidation levels, especially for leveraged positions that can face outsized losses if key supports fail. Accumulation by large holders may help sustain demand, but it does not guarantee immediate stability. Institutional participation can buffer drawdowns, yet sentiment-driven shocks still pose risks.
The current truce is provisional: only a rise to $115,413.46 would dispel the near-term bearish scenario. The next milestone is Bitcoin’s ability to surpass and close above $106,134 in continued sessions, a condition that would open the path toward the required recovery.
