Overview
- Bitcoin rebounded from an intraday low near $99,600 to trade around $103,000 after a volatile pullback.
- U.S. spot Bitcoin ETFs have logged more than $2.05 billion in net outflows over the six-day streak, including $137 million on Nov. 5, with BlackRock’s IBIT leading withdrawals.
- Derivatives data show a cautious reset, with roughly $300 million in liquidations over 24 hours after earlier multi‑billion deleveraging and increased downside hedging in options.
- On‑chain and research analyses highlight significant recent selling by long‑term holders and failure to reclaim short‑term holder cost basis near $112,500, leaving key averages under pressure.
- Market views are divided, with resistance clustered around $106,000 and several analysts flagging potential retests in the $98,000–$88,000 area, including a widely watched $92,000 CME gap.