Bitcoin
Bitcoin may be nearing the end of its recent stability above $100,000 as selling pressure intensifies and investor sentiment continues to weaken, according to leading market analysts.
Important points:
- Analysts have warned that Bitcoin may struggle to break above $100,000 amid weakening conditions.
- Bloomberg’s Mike McGlone warns that technical resistance near $110,000 is significant.
- The cryptocurrency market has lagged behind the stock market, indicating investors are fleeing to safer assets.
Over the past few weeks, long-term holders have begun to reduce their positions, indicating growing caution even among Bitcoin’s most ardent supporters. James Lavish, a fund manager and market analyst, said more than 400,000 people BTC It was sold by a long-term investor after just one month. This amount highlights changes in the broader crypto landscape. “Bitcoin sentiment appears to be at an all-time low,” Lavish summed up, reflecting the market’s shift from euphoria to anxiety in a matter of weeks.
McGlone warns technical failure could accelerate decline
Bloomberg senior market strategist Mike McGlone shared an even more pessimistic view, warning that Bitcoin’s recent attempts to stay above six digits could soon fail. He noted that a key technical level has flipped from support to resistance, marking a potentially defining moment for cryptocurrencies.
In his assessment, Bitcoin’s drop below its 200-day moving average earlier this month signals a significant shift in momentum. “Bitcoin is not going to stay above $100,000 for a long time,” McGlone said, noting that $110,000 is a key resistance level. He added that if the current sell-off continues, major cryptocurrencies could start trading below $100,000 by November 10.
Broad market weakness adds pressure
McGlone also highlighted the wide disconnect between digital assets and traditional markets. The Bloomberg Galaxy Crypto Index, which tracks the performance of top cryptocurrencies, is down about 1% so far in 2025, while the S&P 500 is up nearly 16%. This stark contrast shows that investors prefer safer, more liquid assets such as stocks and gold amid economic uncertainty.
Adding to the negative vibe, the stock price of one of the most notable publicly traded crypto companies, Strategy Inc., has fallen sharply, adding to concerns that institutional investor interest in the sector is waning. Analysts suggest that the correction in both tokens and crypto stocks could lead to an even longer period of decline before renewed momentum returns.
Investors are waiting for market stabilization
Despite the heightened sense of caution, some analysts believe this phase of weakness may ultimately prove to be healthy. They argue that a longer cooling-off period could wipe out excess speculation and allow Bitcoin to establish a more sustainable foundation for its next rally.
For now, all eyes are on whether Bitcoin can sustain above $100,000. This is a psychologically important level that could set the tone for the market heading into the end of the year.
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