Overview
- Bitcoin is consolidating around $101,000–$103,000 after brief dips below six figures earlier in the week, with weekend trading showing little follow‑through in either direction.
- US spot Bitcoin ETFs logged one of their largest single‑day net outflows in weeks on Nov. 7 at about $558 million, though Farside data showed a brief return to net inflows the prior day.
- CryptoQuant data highlight rising long‑term holder selling into a market with reduced absorption, a shift from earlier phases of the rally when expanding demand offset profit‑taking.
- Multiple technical gauges skew bearish, including a weekly rising wedge break, a daily bearish pennant and a recent death cross, while Binance’s Sharpe Signal has slipped negative.
- Some traders flag a trendline break and order‑block reaction near $100,000 that could support a rebound toward $104,000–$115,000, but others caution a local bottom may form closer to ~$95,000 if demand fails to recover.