Bitcoin Updates Today: Will Bitcoin Maintain $106K? November Support Level May Trigger Sustained Buying
- Bitcoin fell 3.4% in October amid geopolitical tensions and Trump's China tariffs, triggering $19B in liquidations despite a late 24-hour 0.54% rebound. - Institutional caution grew as Hargreaves Lansdown warned against Bitcoin's volatility, while Prenetics and Steak 'n Shake expanded crypto holdings and promotions. - Technical analysis highlights $106,600 as a critical support level, with a break potentially pushing prices toward $98,000–$100,000 for long-term buying opportunities. - November's trajecto
Bitcoin ended October on a bearish note, declining by almost 3.4% over the month as global tensions and unstable markets weighed on prices. The digital asset reached a peak of $126,000 at the start of October but dropped to $104,600 after President Donald Trump announced new tariffs on China, which led to over $19 billion in liquidations within a single day, according to
Negative sentiment was heightened by warnings from major institutions. Hargreaves Lansdown, the UK’s top retail investment platform, cautioned its users against using
Technical analysis points to Bitcoin potentially retesting important support levels in November. The 200-week simple moving average (SMA), now near $54,750, is still well below the 2021 cycle high of $70,000, as discussed in a
Broader economic forces are also shaping the market. The Federal Reserve’s rate cut in October and ongoing geopolitical uncertainties have kept Bitcoin trading within a volatile range, as highlighted by Bitget. Outflows from Bitcoin ETFs have added to the downward pressure, with spot Bitcoin ETFs seeing $1.3 billion in withdrawals since October 29, according to Investor Empires’ coverage of Sequans. Nevertheless, institutional interest remains robust, with companies like Prenetics and American Bitcoin Corp — which mined 563 BTC and bought 2,451 BTC in the third quarter — continuing to build their Bitcoin reserves, as noted by CoinDesk.
The direction Bitcoin takes in November may depend on two main factors: the Federal Reserve’s upcoming December meeting and the extent to which Bitcoin is adopted in mainstream business. If the Fed hints at more rate cuts, Bitcoin could regain strength, especially as businesses like Steak 'n Shake bring crypto into everyday spending, according to CryptoNews. On the other hand, continued uncertainty in policy or further ETF outflows could extend the current bearish trend.
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.
You may also like
Bitcoin News Today: Bitcoin Poised for Major Move: Will It Surge or Plunge at $108K?
- Bitcoin consolidates near $104.5K, below $108K resistance, as tightening Bollinger Bands signal potential breakout. - A $108K+ break could drive BTC to $110K-$112K with ETF inflows and reduced miner selling pressure supporting accumulation. - Failure to hold $104K support risks a pullback to $100.5K, with soft ETF demand or renewed miner sales as key triggers. - Solar stocks like Emeren and Canadian Solar draw equity market attention amid mixed earnings and debt concerns.
Tokenized Equities Climb to $10 Billion, Putting Regulators in a Legal Gray Area
- Kraken's xStocks platform, a joint venture with Backed, surpassed $10B in transaction volume four months post-launch, tokenizing equities like Tesla and Meta . - The platform enables 24/7 trading and fractional ownership across Ethereum , Solana , BNB Chain, and Tron , with $2B in onchain activity and 45,000 holders. - Legal ambiguity persists as tokenized stocks are treated as derivatives, not direct securities, with experts warning of liquidity risks and regulatory challenges. - Kraken's cautious focus
Bitcoin Updates: Dubai Court's $456 Million Asset Freeze Marks a Turning Point in International Crypto Regulation
- Dubai's Digital Economy Court froze $456M in TrueUSD reserves, alleging mismanagement by Aria Commodities, a firm controlled by Matthew Brittain. - Funds were transferred via Hong Kong-based First Digital Trust between 2021-2022, sparking legal disputes over whether reserves were converted to illiquid assets. - The ruling underscores global regulatory focus on stablecoin transparency, as Techteryx claims constructive trust while Aria faces scrutiny over opaque transactions. - Trump-linked entities like A
COAI's Sudden Price Decline: Managing Immediate Fluctuations and Sustained Strength
- COAI Index fell 54% by November 2025 due to C3.ai's $116.8M loss, lawsuits, and regulatory uncertainty from the CLARITY Act. - Short-term selloffs were amplified by sector-wide risk aversion, though Binance's smart money account profited $3.125M from COAI trades. - Long-term resilience stems from 50+ corporate partnerships advancing AI adoption and indirect benefits from rising AI R&D investments in biotech . - Investors must balance regulatory risks with COAI's ecosystem strength, as C3.ai's struggles c
Trending news
MoreCrypto prices
More
