Overview
- Bitcoin rebounded to roughly $103,000 after sliding to about $100,800 on Nov. 12, with trading now compressed in the $100,000–$105,000 band and resistance flagged near $105,000–$110,000.
- Roughly $600 million in leveraged positions were liquidated during the drop as futures open interest fell about 34% from October highs, pointing to a cleaner but thinner derivatives backdrop.
- Spot Bitcoin ETFs swung from $524 million of inflows on Nov. 11 to $278 million of outflows on Nov. 12, while Ethereum products recorded net redemptions across multiple sessions.
- On-chain data show exchange balances at multi‑year lows near 2.4 million BTC and whale wallets accumulating an estimated 45,000 BTC this week, tempering supply even as some long‑term holders take profits.
- Macro currents remain pivotal with a firmer dollar and faded rate‑cut odds pressuring risk assets, sentiment gauges leaning cautious, and clustered liquidity around $100,000 and $107,000–$108,000 setting up for a potential break.