Bitcoin price fell 3% over the past 24 hours, trading at $102,964.80, while trading volume fell 48% to $58.86 billion.
That came even after US BTC ETFs (exchange-traded funds) ended a six-day outflow streak on Thursday with net inflows of $239.9 million.
Investors had withdrawn more than $2 billion from the funds in the past seven days, marking the second-worst weekly outflows since the products launched last year.
🚨 INSIGHT: Bitcoin’s slide toward $100,000 deepened as $2 billion 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
Data on the chain reflects the cautious mood. There has been a noticeable drop in activity in major Bitcoin wallets, indicating that whales are not aggressively buying the dip. Instead, the flow of coins from ETFs to exchanges has increased, which is generally a bearish sign as holders try to sell or transfer assets from passive vehicles.
Despite the ETF sell-off, not all signals are negative. Some investors are using the recession to accumulate proven by stable inflow in select ETF products and on-chain wallets. However, continued pressure from major sellers and the absence of strong institutional demand mean the recovery remains fragile
BTC Price Prediction: Key Levels to Watch
Bitcoin’s price outlook for the coming weeks is still cloudy. After the recent dip, BTC is trading just above $100,500, close to its 50-week simple moving average (SMA) on $102,917which is a crucial support for bulls.
If Bitcoin falls below this level, the $99,000–$100,000 range will become the final technical zone before a possible test of $92,000, noted by several analysts as a “CME gap” target in the futures market.
Technical indicators are mixed: the RSI is at 43.7, indicating weak momentum, but not yet oversold territory. MACD is negative, indicating that sellers still have the upper hand.
Bitcoin price is right at the lower limit 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 towards resistance at $106,000 and then $110,000, as predicted by several market experts.
BTCUSD analysis source: Tradingview
However, if ETF outflows continue and broader market sentiment remains defensive, the risk of another decline remains. In this scenario, the next major support is at $92,000, below which even bigger losses are possible given poor liquidity and low conviction among new buyers.
Adjusted price forecast models suggest a wide trading range in November 2025. Most experts expect the minimum price of BTC to be around $103,746, with a possible recovery to $119,165 if conditions improve. On the other hand, if sellers break the $99,000 zone, expect a quick move towards $92,000 before a major recovery attempt.
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