Bitcoin News Update: Bitcoin Drops Under $103K Amid Escalating U.S.-China Crypto Tensions

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Bitcoin News Update: Bitcoin Drops Under $103K Amid Escalating U.S.-China Crypto Tensions

Bitget-RWA2025/11/12 06:34

By:Bitget-RWA

- Bitcoin fell below $103,000 on Nov. 9, 2025, as U.S. government reopening failed to ease market anxieties amid bearish technical indicators and geopolitical tensions. - A brief price spike to $104,000 followed Trump's $2,000 "dividend" announcement, but broader macro pressures quickly reversed the rally. - China accused the U.S. of orchestrating a $13B Bitcoin theft via a 2020 cyber operation, escalating U.S.-China tensions over digital asset sovereignty. - Bitcoin remains rangebound between $98,898 and

On November 9, 2025, Bitcoin's value dropped beneath $103,000 as the reopening of the U.S. government failed to ease market concerns. Technical signals and ongoing geopolitical strife contributed to a pessimistic forecast for the cryptocurrency. Bitcoin was trading at $102,326, with a 24-hour trading volume of $48.14 billion, while its market cap stayed strong at $2.04 trillion, according to a

Bitcoin Price Watch: Bearish Clouds Linger Despite Rangebound Price

report. The muted market reaction to the restart of federal activities highlighted lingering doubts, with experts observing a consolidation pattern between $101,000 and $104,000, as mentioned in the same report.

Technical reviews pointed to a bleak broader outlook, with Bitcoin's daily chart reflecting a steep fall from $126,000 to $98,898, breaking through major support zones. Although there was a slight rebound for short-term traders, both the 4-hour and 1-hour charts indicated fading

momentum

, as upward moves saw shrinking volumes and oscillators such as the RSI and MACD showed a neutral to bearish tendency, according to the

Bitcoin Price Watch: Bearish Clouds Linger Despite Rangebound Price

report. "The market is idling, and without a catalyst,

bitcoin

could be headed for another downward move," one analysis cautioned, as per the report.

Despite the prevailing negative mood, a brief surge followed U.S. President Donald

Trump

unveiling a $2,000 "dividend" for most citizens, financed by tariffs. This announcement lifted Bitcoin to $104,000 for the third time that week, with

Ether

and

Solana

also experiencing gains, according to a

Bitcoin Price Spikes as Trump Announces $2,000 in Dividends to Some Americans

report. However, the rally quickly faded as broader economic challenges and international tensions overshadowed the stimulus news.

At the same time, a new controversy arose when China's cybersecurity authorities accused the U.S. of masterminding a $13 billion Bitcoin heist during a 2020 breach of the LuBian mining pool. The National Computer Virus Emergency Response Center (CVERC) in Beijing claimed the U.S. government seized 127,272 BTC—worth $3.5 billion at the time—through a "state-level cyber operation," later reclassified as a legal asset seizure tied to Cambodia's Prince Group, as reported by a

China Accuses U.S. of Orchestrating $13 Billion Bitcoin Theft

report. The U.S. Department of Justice justified the confiscation as part of a criminal probe, but Chinese officials rejected this, asserting that the delayed movement and prolonged dormancy of the stolen Bitcoin pointed to a coordinated, government-backed operation, as detailed in the

China Accuses US of State-Level Cyber Theft in Massive Bitcoin Seizure

article.

This dispute has further strained U.S.-China relations over digital asset control, with the contested Bitcoin representing 0.65% of the total supply. At present market rates, the seized coins are valued at $13.3 billion, fueling debate about the influence of governments over decentralized currencies, according to a

China Accuses US of Stealing 127,426 Bitcoin Worth $13 Billion

report. Experts suggested that this event could prompt tighter international regulations, complicating Bitcoin's role as an impartial store of value.

Currently, Bitcoin is stuck in a turbulent range, with significant resistance at $104,000–$106,000 and crucial support at $98,898, as outlined in the

Bitcoin Price Watch: Bearish Clouds Linger Despite Rangebound Price

report. Surpassing $106,000 could trigger renewed bullish energy, but persistent weakness below $98,000 may intensify the downward trend. With both geopolitical and technical challenges mounting, the cryptocurrency stands at a pivotal point in its short-term path.

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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