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

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,

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

Experts from Glassnode suggest that

is presently "trapped in a consolidation phase," 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," , 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.

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, , 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.

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

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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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