In crypto news today, billions are being wiped off balance sheets as
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Bitcoin
0.56%
Bitcoin
BTC
Price
$102,200.87
0.56% /24h
Volume in 24h
$29.17B
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Price 7d
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consolidates between $100.000 and $103,000.
(Source: CoinMarketCap)
Currently trading at
, the digital gold’s downturn has harmed the broader crypto market. Many firms are rethinking whether to keep holding on to their crypto or start selling.
Its price action reached $103,000 on Saturday but has since moved down by 0.33% over the last 24 hours. Also, it is down by more than 7% on the weekly charts.
(Source: TradingView)
Analysing BTC’s price action on the day chart, a head-and-shoulders pattern has formed, signalling a shift towards lower prices. The first peak appeared when BTC failed to hold above $110,000 and then climbed to $114,000 before sellers pushed it down.
On 4 November, BTC dropped by 5% and broke through a critical support line, confirming the bearish trend.
Since buyers have not been able to fight back the selling pressure, the bearing pressure might continue in the future. If BTC breaks below its key support at $100,000, it could fall further down to the $94,000 or even $87,000, where buyers have previously stepped in.
$BTC is still consolidating around the $102,000 level.
The markets were expecting the end of the government shutdown this weekend, but it didn't happen.
I still think Bitcoin could go a bit lower, given that institutional demand has gone and OG whales are selling. pic.twitter.com/zvSpxkLTVp
— Dark Whale (@TheDarkWhale_) November 9, 2025
Still, short-term price recoveries are possible if buyers start targeting the lower levels, which could temporarily stabilize the market.
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Crypto News Today: Bulls And Bears Battle To Control $100k Level
BTC’s $100,000 price level has become a major battleground between buyers and sellers since this level has an emotional significance and is currently being monitored by industry hawks.
Since the start of 2025, BTC’s journey has been anything but smooth. It began the year with $100,000, dropped to $75,000, and then created its ATH at $126,000 in October.
(Source: Coingecko)
But the hopes of an Uptober rally were short-lived since BTC has slid down quite a bit since its ATH, essentially returning to the level where it started from.
Looking ahead, predictions vary widely. Analyst Geoffrey Kendrick from Standard Chartered, for instance, suggested that $100,000 might be the last BTC dip ever.
Standard Chartered says Bitcoin may never drop below $100k again
Standard Chartered’s digital assets lead Geoffrey Kendrick claims that — if current macro and geopolitical trends sustain — $BTC might never revisit the $100,000 floor. pic.twitter.com/j551h8xpIj
—
Data Analyst
He believes that decentralized finance (DeFi) will eventually replace traditional banking. If that were to pass, BTC’s value could go beyond $125,000.
Big institutions are taking advantage of the situation by scooping up BTC and ETH at low prices. Strategy, for instance, is planning to buy more BTC in this downturn. It raised €620 million (about $717 million) in Europe.
Meanwhile, on-chain data shows test transactions from Coinbase Prime to Strategy’s wallet, hinting at an incoming large-scale accumulation.
Meanwhile, veteran BTC holder Owen Gunden has been offloading his stash of BTC since October. Recently, he transferred 3,549 BTC to an unknown address, with 600 BTC already deposited to Kraken.
Bitcoin OG Owen Gunden seems ready to dump all of his 11K $BTC($1.12B).
8 hours ago, he moved his remaining 3,549 $BTC($361.84M) — with 600 $BTC($61.17M) already deposited to #Kraken.https://t.co/QYVHyxa0SV pic.twitter.com/wMpQvS5O9y
— Lookonchain (@lookonchain) November 9, 2025
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The next 24-48 hours are crucial for BTC since it has been consolidating between $100k and $103k for the last two days.
Analyst @arcbeacon on X shares his thoughts.
$BTC /USDT: Since yesterday, there has been no major change on the chart. The next 24 to 48 hours could be crucial, because the Elliott Wave triangle we’ve been watching may complete during this time.
It’s important to emphasize that, regardless of smaller microstructures, the… pic.twitter.com/RHoLRwaYL7
— ArcBeacon (@arcbeacon) November 9, 2025
Kazakhstan To Launch $1B Crypto Fund From Seized Crypto
Kazakhstan is planning to build a national crypto reserve fund worth between $500 million and $1 billion by early 2026.
The money will come from digital assets seized during criminal investigations and mining proceeds that have been brought back from overseas. The idea is to take what’s been recovered and turn it into a structured fund that feeds into the country’s broader financial strategy.
Read More Here
BTC Lost Its Sheen, But It’s Come Back: Alex Thorn
Alex Thorn, Head of Research at Galaxy Digital, in an interview, told CNBC that BTC was the hottest trade at the beginning of the year. However, since then, investor attention has shifted to other sectors like AI, gold, quantum tech, and nuclear energy.
Thorn argued that this is healthy for BTC as ownership gradually shifts from long-term holders to new investors.
JUST IN: Galaxy Digital’s Alex Thorn says Bitcoin excitement will return soon. pic.twitter.com/e5NNEmUsMz
— Coinscreed (@coinscreed) November 9, 2025
While still bullish in the long-term, Galaxy has lowered its year-end BTC price target from $185,000 to $120,000, which is about 17% above the current levels.
Thorn, however, believes that attention will once again return to BTC, especially because of its reputation as digital gold. At the same time, JPMorgan analysts noted how BTC’s risk profile is improving relative to gold.
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Wall Street Doubles Down On BTC Amid Turbulent Market
Even though BTC is down and is facing negative pressure at the moment, it is still up by 35% compared to last year.
Despite this recent volatility, JP Morgan has reported a 64% surge in client investment via BlackRock’s BTC ETF that signals a growing institutional interest in digital gold.
JUST IN:
JP Morgan reported holding 5,284,190 shares of #Bitcoin ETF IBIT worth $343 million, a 64% increase from the previous disclosure. pic.twitter.com/nccPXk0krX
— Bitcoin Magazine (@BitcoinMagazine) November 7, 2025
JP Morgan CEO Jamie Dimon has softened his crypto stance and has aligned with client demands. At the same time, BlackRock’s IBIT ETF has become the fastest-growing in history.
JP Morgan analysts now predict that BTC could reach $170k, putting its market value at $3.5 trillion.
The recent selloff by whales is being absorbed by institutions, suggesting that the price might stabilize in the near future.
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The post Crypto News Today: BTC Consolidates As Traders Fight To Control The $100k Level appeared first on 99Bitcoins.
