Bitcoin Updates: Bullish Technical Signals for Bitcoin Face Off Against Underlying Bearish Threats

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Bitcoin Updates: Bullish Technical Signals for Bitcoin Face Off Against Underlying Bearish Threats

Bitget-RWA2025/11/26 10:14

By:Bitget-RWA

- Analysts highlight Bitcoin's proximity to key technical indicators, suggesting a potential rebound to $96,000 amid undervaluation signals like the Puell Multiple (0.86) and a two-year low MVRV Z-Score (1.13). - Structural risks persist, including MSCI index exclusions of crypto treasuries (Jan 2026) and ETF outflows, which could trigger sell-offs and weaken liquidity despite improving bull-bear momentum (-20%) and fair-value gaps ($99,000 target). - Market views diverge: some see a 30% drawdown from $126

Bitcoin's recent price movements have sparked fresh interest, with experts indicating the cryptocurrency may be entering a promising phase for a potential rebound. New figures show that

Bitcoin

(BTC) is nearing significant technical markers that have previously signaled market turnarounds, and analysts are eyeing a possible recovery target of $96,000. The Puell Multiple—which measures miners’ daily earnings against yearly averages—has dropped to 0.86, pointing to undervaluation and echoing patterns seen before past recoveries, such as a 50% surge after a similar dip in April 2025

according to analysis

. At the same time, the MVRV Z-Score, which compares Bitcoin’s market cap to its realized value, has fallen to 1.13, its lowest point in two years,

nearing levels

that came just before an 80% rally in late 2023.

Additional on-chain and derivatives indicators further support the argument for a possible reversal. The Bitcoin Bull-Bear Structure Index, which had been negative since November 11,

has improved to -20%

, suggesting bearish sentiment is easing. Meanwhile, the Bitcoin Futures Flow Index remains under the neutral-bullish range of 45–55, indicating ongoing caution but a slowing downward trend

according to data

. Experts note there is an $11,000 gap between the current spot price and the fair-value benchmark at $99,000,

positioning $96,000–$99,000

as a key area for potential recovery.

Bitcoin Updates: Bullish Technical Signals for Bitcoin Face Off Against Underlying Bearish Threats image 0

Nonetheless, there are still significant structural hurdles.

According to market analysis

, the planned removal of crypto treasury firms from major indices such as

MSCI

in January 2026 could force index-tracking funds to sell, potentially adding to downward pressure on Bitcoin. Moreover, outflows from ETFs have reduced market liquidity,

with the Sharpe Ratio

hovering near zero and institutional investments turning negative. These elements highlight the market’s current vulnerability, even as technical signals point to a possible bounce.

Opinions among market participants are split regarding the timing and durability of any recovery. Some believe that Bitcoin’s 30% drop from its record high of $126,000 presents a buying window, while

others warn

that a brief rebound could be followed by further losses. The outlook will depend on broader economic factors, such as the Federal Reserve’s upcoming interest rate decision in December and

stabilization in ETF flows

. For now, the $84,000 support level is viewed as crucial: if it fails, a wave of liquidations could drive prices down to $75,000 or lower

according to analysis

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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