Bitcoin News Today: Bitcoin Faces $106K Challenge as Whales, Miners, and Broader Economic Factors Intersect

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Bitcoin News Today: Bitcoin Faces $106K Challenge as Whales, Miners, and Broader Economic Factors Intersect

Bitget-RWA2025/11/14 08:52

By:Bitget-RWA

- Bitcoin nears critical descending channel, risking a sharp drop to $88,000 if $106,500 resistance fails, per analysts. - Mixed signals emerge: $1.15M ETF inflow and 23% trading volume surge hint at short-term stability, but macroeconomic headwinds and whale dumping persist. - Institutional adoption grows under Trump's policies, yet miners face existential threats as Bitfarms shifts to AI amid unprofitable operations. - Market bifurcation deepens: Wall Street thrives on digital assets while domestic minin

Bitcoin is currently navigating a critical juncture, with its price lingering near a significant downward channel that analysts warn could trigger a steep drop to $88,000. The cryptocurrency, now valued at approximately $105,000, is sending mixed signals: while institutional investments and technical metrics point to short-term steadiness, ongoing macroeconomic challenges and bearish moves by large holders cast uncertainty over its long-term prospects.

Latest figures indicate a modest $1.15 million inflow into U.S.-listed

Bitcoin

ETFs on Monday—a rare positive after weeks of net outflows totaling $1.22 billion. According to SoSoValue, if this trend continues, it could help Bitcoin recover, especially as

the price finds support around the $100,000 mark

Bitcoin News Today: Bitcoin Faces $106K Challenge as Whales, Miners, and Broader Economic Factors Intersect image 0

Analysts at Glassnode share this outlook, observing that Bitcoin’s bounce to $106,000

indicates renewed interest from buyers

, backed by a 23% jump in spot trading volume to $14.1 billion and a decrease in selling pressure. Still, they warn that persistent macroeconomic headwinds—such as ongoing U.S. government shutdown risks and high interest rates—are limiting bullish momentum.

From a technical standpoint, Bitcoin faces a crucial resistance at $106,500. To continue its upward move, the price must close above this level. Bitcoin has tested this resistance several times, currently hovering near the 38.2% Fibonacci retracement

of this year’s range (between $74,508 and $126,299).

If it fails to break through, the downward channel could strengthen, possibly pushing the price back to $88,000—a level last reached in mid-2024.

Despite these challenges, some experts interpret the current pullback as a "mid-cycle consolidation" rather than the end of the 2025 bull run. Bitfinex researchers highlight that

72% of Bitcoin’s supply is still profitable

at $100,000, which is historically a bullish indicator. However, a sustained recovery will require renewed interest from both institutions and retail investors. This perspective differs from the broader market’s nervousness, as reflected in

Japanese stocks’ 4.7% single-day drop

and a global retreat from riskier assets.

Bearish forces remain in play. Blockchain data shows

significant selling by major holders

, including the Winklevoss twins’ Gemini Custody wallets, which have sold over 9,000 BTC (worth $900 million) since January 2025. Retail participation is also weak, with open interest in Bitcoin futures falling from a $94.12 billion high in October to $68.37 billion as of Tuesday

based on technical analysis

The broader economic environment adds further uncertainty. Both Ted Pick of Morgan Stanley and David Solomon of Goldman Sachs have

cautioned about possible 10%-15% market corrections

, highlighting the fragility of recent gains. Meanwhile, U.S. Bitcoin miners are facing existential threats.

Bitfarms

, a leading mining company in North America,

has revealed plans to shift fully to AI

and high-performance computing by 2027, citing unprofitable Bitcoin mining due to declining prices and higher energy expenses.

Although Trump’s pro-Bitcoin initiatives—like the $17 billion Strategic Bitcoin Reserve and regulatory easing—have encouraged institutional participation, miners have not received similar support, exposing a policy gap

as noted by market analysts

. This split highlights the industry’s divide: while Wall Street benefits from digital assets, domestic mining operations are under pressure.

In summary, Bitcoin’s short-term outlook depends on its ability to surpass $106,500 and maintain institutional interest. If it fails, the price could revisit $88,000, with overall market sentiment and large-holder actions playing key roles.

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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