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