BTC Faces Pressure as Bulls Struggle to Regain Momentum

• Bitcoin consolidates near $101K, facing resistance below key EMAs and October highs.
• BTC futures open interest hits $68.82B, signaling rising leveraged investor activity.
• Exchange outflows persist, showing long-term holding despite brief inflow-driven rallies.

Bitcoin (BTC) trades near $101,358 as it struggles to regain momentum after retreating from its October highs. The price remains under selling pressure, moving below key exponential moving averages (20, 50, 100, and 200-EMA). This setup signals a continuation of short-term weakness despite brief rebounds seen earlier in the week.

Price Consolidation and Technical Levels

Bitcoin continues consolidating around the $99,000 to $105,000 range, showing limited volatility after recent declines. Immediate support lies at $98,953, a critical level where buyers previously stepped in to slow losses. A break below this could trigger a slide toward $97,500 or even $95,000 if momentum accelerates.

On the upside, resistance appears near $103,177, aligned with the 50-EMA, followed by the 23.6% Fibonacci retracement at $105,399. Reclaiming these levels would strengthen buyer confidence and signal a short-term reversal. 

Mid-term resistance stands near $109,386, where Bitcoin faced repeated rejections in late October. Beyond that, the broader resistance zone between $112,609 and $115,832 marks the 50% to 61.8% retracement range an area that could define medium-term direction.

Futures and Market Participation

Bitcoin futures open interest has surged throughout 2025, signaling increased investor participation. After months of range trading early in the year, open interest began climbing sharply from late March. 

By November 7, it had reached $68.82 billion, one of the year’s highest levels, reflecting growing leveraged activity. This expansion indicates stronger speculative positioning, often preceding large price swings.

Moreover, the rise in open interest aligns with Bitcoin’s stabilization above the $100,000 threshold. It suggests that traders expect near-term volatility, possibly driven by macroeconomic cues or institutional accumulation.

Exchange Flows and Investor Sentiment

Exchange flow data reveals a shift toward long-term holding behavior. Throughout 2025, Bitcoin saw consistent outflows from exchanges, implying that investors preferred custody over short-term selling. Occasional inflow spikes, such as in March and May, reflected brief profit-taking phases rather than sustained distribution.

Recently, net inflows reached $46.05 million as BTC hovered near $101,156. This suggests renewed buying activity despite market uncertainty. Consequently, the combination of high open interest and steady inflows hints at institutional repositioning ahead of a potential expansion phase.

Technical Outlook for Bitcoin Price

Key levels remain clearly defined as Bitcoin trades below major moving averages, signaling cautious market sentiment heading into mid-November.

• Upside levels: $103,177 and $105,399 serve as immediate hurdles, aligned with the 50-EMA and 23.6% Fibonacci retracement zone. A breakout above these levels could extend gains toward $109,386 and $112,609, where stronger resistance awaits.
• Downside levels: $98,953 marks the nearest support, followed by $97,500 and $95,000 as deeper downside targets. A breach below $98,953 could trigger additional selling pressure and test the next demand zones.
• Resistance ceiling: The 200-EMA near $110,291 stands as the key threshold to flip for medium-term bullish momentum.

The technical picture shows BTC consolidating within a broad range between $99,000 and $105,000, reflecting a market in balance between buyers and sellers. This structure suggests a potential volatility expansion once price exits this range.

Will Bitcoin Regain Momentum?

Bitcoin’s near-term outlook depends on whether bulls can defend the $99,000 support and push past the $105,000 barrier. A sustained move above $109,386 would confirm renewed strength and open the path toward $112,000–$115,000. However, losing the $98,953 floor may expose BTC to $95,000, where a stronger accumulation base could form.

Currently, Bitcoin remains in a pivotal zone. Momentum indicators show waning selling pressure, yet conviction buying has not emerged. Market participants await confirmation from price action and inflows, which will determine if the next major move favors a recovery or further downside.