Bitcoin News Today: Bitcoin Faces $107K Barrier as Bulls and Bears Battle in Key Supply Zone

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Bitcoin News Today: Bitcoin Faces $107K Barrier as Bulls and Bears Battle in Key Supply Zone

Bitget-RWA2025/11/16 16:02

By:Bitget-RWA

- Bitcoin fell below $107,250 after failing to hold a key resistance level, raising fears of a potential "death cross" bearish pattern. - Analysts note buyers are accumulating during dips but lack strength to break through a dense $106k-$118k supply zone, keeping Bitcoin in "consolidation limbo." - Technical indicators show mixed signals: RSI indicates oversold conditions while MACD suggests the market isn't yet in full bear territory. - A prolonged downturn could follow if Bitcoin stays below its 365-day

The recent movements in Bitcoin’s price have reignited discussions about whether the cryptocurrency is on the verge of a recovery or facing further losses, as both technical analysis and blockchain data offer conflicting signals regarding investor sentiment. Last week, the asset slipped below $107,250 after it was unable to maintain a key resistance point,

adding to worries

that a "death cross"—when the 50-day moving average drops beneath the 200-day moving average—might soon develop. Despite its reputation as a bearish indicator,

this pattern has not been a reliable predictor

, as similar occurrences in 2023 and 2024 did not lead to prolonged declines.

Experts from Glassnode suggest that

Bitcoin

is presently "trapped in a consolidation phase,"

with investors buying during price drops

but unable to push past a heavy supply region between $106,000 and $118,000.

Bitcoin News Today: Bitcoin Faces $107K Barrier as Bulls and Bears Battle in Key Supply Zone image 0

This price band, where many holders sell to secure profits, serves as a significant obstacle to upward movement. According to the report, "A lasting rebound will depend on fresh capital inflows that can absorb this selling pressure,"

emphasizing that although there is clear short-term accumulation

, a broader bullish turnaround is unlikely without substantial new investment.

Whether the market is shifting into a bearish period is largely determined by technical signals.

Bitcoin’s Relative Strength Index

and that of the wider crypto sector indicate oversold conditions, a scenario previously observed during mid-cycle corrections in 2021, 2023, and 2024. At the same time, the Moving Average Convergence Divergence (MACD) shows a transitional stage: while Bitcoin remains in negative territory,

more than 58% of assets in the market are showing upward momentum

, indicating that a full-scale bear market has not yet taken hold.

Certain developments could prove decisive. If Bitcoin stays below its 365-day moving average for four to six weeks—a pattern that has historically signaled bear markets—or if long-term holders sell off more than 1 million BTC within two months, a deeper downturn could ensue.

At present, the $100,000 support mark

and a clear move above $107,250 are crucial for bulls aiming to restore upward momentum.

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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