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The Bitcoin price dropped 3% in the last 24 hours to trade at $102,964.80 on a 48% plunge in trading volume to $58.86 billion.
That came even as US spot BTC ETFs (exchange-traded funds) ended a six-day outflow streak on Thursday with $239.9 million in net inflows
Investors had pulled more than $2 billion from the funds in the previous seven days, recording the second-worst weekly outflow since the products launched last year.
🚨 INSIGHT: Bitcoin’s drop toward $100K deepened as $2B in ETF outflows, weak earnings, and macro fears shook investor confidence. pic.twitter.com/dY65IxPaMv
— Cointelegraph (@Cointelegraph) November 6, 2025
Bitcoin On-Chain Signals Show Market Nerves
On-chain data echoes the cautious mood. There has been a noticeable drop in large Bitcoin wallet activity, suggesting that whales are not aggressively buying the dip. Instead, the flow of coins from ETFs to exchanges has increased, typically a bearish sign as holders seek to sell or transfer assets out of passive vehicles.
Despite the ETF selloff, not all signals are negative. Some investors are using the downturn to accumulate, as evidenced by steady inflows into select ETF products and on-chain wallets. However, the continued pressure from major sellers and the absence of strong institutional demand mean that the recovery remains fragile.
BTC Price Prediction: Key Levels to Watch
Bitcoin’s price outlook for the weeks ahead is still cloudy. After the recent dip, BTC trades just above $100,500, close to its 50-week simple moving average (SMA) at $102,917, which is a critical support for bulls.
If Bitcoin falls below this level, the $99,000–$100,000 range becomes the last technical zone before a possible test of $92,000, noted by several analysts as a “CME gap” target on the futures market.
Technical indicators are mixed: The RSI is at 43.7, showing weak momentum but not yet oversold territory. MACD is negative, signaling sellers still have the upper hand.
The Bitcoin price is sitting right on the lower boundary of a multi-month ascending channel, which could be a make-or-break point for the current trend. If Bitcoin manages to stay above the 50-week SMA and hold the lower trendline, buyers may try to push the price back toward resistance at $106,000 and then $110,000, as forecast by several market experts.
BTCUSD Analysis Source: Tradingview
However, if ETF outflows continue and broader market sentiment stays defensive, the risk of a fresh drop remains. In this scenario, the next key support is at $92,000, below which even deeper losses are possible given poor liquidity and little conviction among new buyers.
Custom price prediction models suggest a wide trading range in November 2025. Most experts expect BTC’s minimum price to be around $103,746, with a possible rebound toward $119,165 if conditions improve. On the downside, if sellers break the $99,000 zone, expect a swift move to $92,000 before any major recovery attempt.
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