Bitcoin News Update: Bitcoin Drops Under $100K Amid Diverging Analyst Opinions on Market Direction

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Bitcoin News Update: Bitcoin Drops Under $100K Amid Diverging Analyst Opinions on Market Direction

Bitget-RWA2025/11/07 11:38

By:Bitget-RWA

- Bitcoin dropped below $100,000 on Nov. 7, driven by macroeconomic risks and $2B+ ETF outflows amid U.S.-China tensions and Fed inaction. - Analysts highlight $113,000 as critical resistance and $100,000 as key support, with breakdowns risking $88,000 liquidation levels. - Institutional views diverge: Ark Invest cut targets to $120,000 while JPMorgan raised fair value to $170,000 amid shifting adoption narratives. - Market eyes December's "Santa Rally" potential but recovery hinges on Bitcoin holding abov

On November 7, Bitcoin dropped below $100,000, falling 2.8% in the last day as growing economic uncertainty and significant institutional withdrawals intensified negative sentiment throughout the crypto sector. This decline has sparked renewed discussions about Bitcoin’s near-term direction, with experts pointing out crucial support zones and offering varied predictions for the rest of 2025.

This recent downturn comes after Bitcoin reversed sharply from its October high of $126,080, shedding nearly 15% in just two weeks, as highlighted in a

crypto.news analysis

. Multiple elements have weighed on Bitcoin: the Federal Reserve’s cautious approach to rate reductions, rising trade friction between the U.S. and China, and a spike in spot

Bitcoin

ETF withdrawals. Since October 29, investors have pulled over $2 billion from U.S. Bitcoin ETFs, according to

Coinrise data

, with the largest outflows coming from BlackRock’s IBIT and Fidelity’s FBTC. At the same time, institutional investors withdrew almost $800 million from Bitcoin and

Ethereum

ETFs last week, reflecting caution ahead of possible government shutdowns and unpredictable economic indicators, as reported by

TradingView report

Bitcoin News Update: Bitcoin Drops Under $100K Amid Diverging Analyst Opinions on Market Direction image 0

Technical analysts have pinpointed $113,000 as a major resistance and $100,000 as a significant support level. If Bitcoin can maintain a close above $113,000, the bearish trend could be reversed; however, a drop below $100,000 may open the door to further declines toward $88,000—a level that, according to the TradingView report, could prompt liquidations among short-term holders. Historically, $100,000 has served as a bottom during previous corrections, but its reliability in the current climate is still uncertain.

Investors are also facing conflicting institutional perspectives. Ark Invest, led by Cathie Wood, reduced its Bitcoin price forecast from $185,000 to $120,000, citing a “mature phase” characterized by decreased volatility and greater institutional involvement, according to a

Yahoo Finance report

. In contrast, JPMorgan increased its fair value estimate to $170,000, suggesting Bitcoin is overtaking gold as a value store and attracting nearly 1.8 times more risk capital, as detailed in a

Blockonomi report

. Tether’s recent acquisition of 961 BTC (worth $97 million) during the price dip has been seen as a positive indicator, though retail traders remain wary amid ongoing bearish sentiment on Crypto Twitter—a trend also noted in the Blockonomi article.

The recent selloff has also impacted traditional markets. Block Inc., which handles substantial Bitcoin transactions through its Cash App, reported third-quarter revenue of $1.97 billion, falling short of projections, according to a

Barron's analysis

. The company’s shares dropped 14% in premarket trading, heightening concerns about Bitcoin’s influence on its business. Meanwhile, Bitcoin miner Cipher Mining has announced plans to raise $1.4 billion to expand AI data centers in Texas, signaling a broader industry shift from crypto mining to high-performance computing, as mentioned in a

CryptoRank report

Looking forward, attention is turning to a possible “Santa Rally” in December, potentially fueled by the end of quantitative tightening and anticipated rate cuts, according to the TradingView report. Still, a sustained recovery depends on Bitcoin staying above $113,000 and improved market liquidity. With ongoing macroeconomic threats—including rising energy demand from AI and the U.S. Supreme Court’s review of tariffs from the Trump era—Bitcoin’s next move may depend on institutional trust and geopolitical developments.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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