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Bitcoin News Today: Bitcoin Faces Crucial $94K Threshold: Will It Hold Steady or Plunge Further?

Bitcoin News Today: Bitcoin Faces Crucial $94K Threshold: Will It Hold Steady or Plunge Further?

Bitget-RWA2025/11/17 07:14
By:Bitget-RWA

- Bitcoin tests critical support near $94,000 as technical indicators signal bearish momentum amid Fed policy uncertainty and liquidity strains. - Record $463M BlackRock ETF outflows and $1.1B total redemptions highlight worsening market sentiment and institutional distress. - Analysts split between bear market forecasts through 2026 and potential stabilization near $94,000 tied to 6-12 month holder cost bases. - Key resistance at $103,000 remains pivotal - a sustained break could reignite bullish trends w

Bitcoin is at a pivotal moment as its price lingers near crucial support zones, with experts cautioning that a sharper correction may be on the horizon due to increased volatility stemming from uncertainty around Federal Reserve policies and tightening liquidity. The leading cryptocurrency has slipped beneath $95,000, challenging the 2x Metcalfe Network Value threshold at $91,000 and the 61.8% Fibonacci retracement at $94,253

. Should these levels fail to hold, the price could drop further toward the 100-week EMA at $85,508 or the 23.6% Fibonacci retracement at $84,000 .

Technical signals point to continued bearish

, with the weekly Relative Strength Index (RSI) registering at 41 and the Moving Average Convergence Divergence (MACD) maintaining a negative crossover . On the daily timeframe, Bitcoin's failure at the 38.2% Fibonacci level of $106,453 and the ensuing 6% decline underscore the market's fragility . The 50-week EMA at $100,862, a historically significant support, has been breached, .
Bitcoin News Today: Bitcoin Faces Crucial $94K Threshold: Will It Hold Steady or Plunge Further? image 0
analyst Axel Adler Jr. observed that "the market currently lacks any support," as realized price bands for short-term holders have now become resistance .

Anticipation around the upcoming FOMC minutes is adding to the market's uncertainty, as investors await clues about future monetary policy. With little major economic data available,

. At the same time, liquidity challenges have grown, with BlackRock’s Bitcoin ETF seeing a record outflow of $463.10 million on Nov. 14—the largest since its inception . Other prominent ETFs, such as Fidelity’s FBTC and Grayscale’s , also experienced notable withdrawals, .

Institutional moves present a mixed scenario. Harvard University has tripled its investment in BlackRock’s Bitcoin ETF,

. Yet, this optimistic action stands in contrast to the broader market’s struggles, . CryptoQuant CEO Ki-Young Ju pointed out a potential stabilization area near $94,000, which aligns with the cost basis for holders in the 6- to 12-month range . If Bitcoin can maintain levels above this zone, it may establish a technical bottom, but a failure to do so could lead to steeper declines .

Experts remain split on Bitcoin’s short-term direction. Some, such as Ledn CIO John Glover, foresee a bearish trend lasting into mid-2026, while others anticipate a possible recovery. Derek Lim from Caladan remarked that the current liquidity crunch, worsened by the U.S. government shutdown, is temporary and should ease as government spending resumes

. He also mentioned that Japan’s $110 billion stimulus could help improve global liquidity. Meanwhile, Bitcoin’s weekly Stochastic RSI has dropped into oversold territory, .

Bitcoin’s next moves will depend on whether it can reclaim important resistance points, such as the 50-week EMA at $103,000

. A decisive close above this threshold could restore bullish confidence, while remaining below it would confirm a more extensive correction. As the market faces this crucial phase, participants are watching closely for signs of either capitulation or stabilization—an important test for both Bitcoin and the wider cryptocurrency sector.

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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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