Bitcoin News Today: Bitcoin's Descent Below $100K Ignites Debate: Capitulation or Catalyst?

Bitcoin's recent slide below the $100,000 psychological threshold has intensified speculation about its near-term trajectory, with analysts and market data platforms offering diverging views on whether the cryptocurrency can rebound to reclaim that level by year-end. The move has triggered a wave of caution among investors, as the Crypto Fear & Greed Index plunged to a four-month low of 15/100, signaling "extreme fear" in the market.

The breakdown below $100,000 has shifted focus to the next critical support level at $87,800, according to technical analysis from Cointelegraph. Traders are closely monitoring whether Bitcoin can stabilize there or if further selling pressure will drive the price lower. The 20-day exponential moving average ($104,850) and the relative strength index (RSI) near oversold territory suggest the immediate bias remains bearish, with sellers dominating the narrative according to technical analysis.

While the short-term outlook appears grim, some industry figures and data platforms have flagged potential catalysts for a reversal. Bitwise's chief investment officer, Matt Hougan, noted that a sharp rally into late 2025 followed by a pullback would align with Bitcoin's historical four-year cycle. However, the failure to achieve such a move has shifted expectations to 2026, with Hougan citing "positive underlying fundamentals" as a potential driver for a rebound.

Santiment, a crypto analytics firm, has taken a more bullish stance, arguing that the market is nearing a "point of capitulation" as sentiment turns increasingly negative. The firm suggested that a surprise November rally could occur as stronger hands accumulate assets sold by weaker investors. "It's not a matter of if, but when this will next happen," Santiment stated in a recent post on X according to Cointelegraph.

Technical indicators also highlight a possible path for Bitcoin's recovery. The BTC/USDT pair faces immediate resistance at $100,000, which has flipped into a barrier after the recent breakdown. Traders are watching for signs of a sustained rebound, but any rally attempts are likely to encounter selling pressure at this level. If the price continues to decline, the next key support at $92,000 could be tested, with a subsequent drop to $87,800 remaining a possibility.

The broader market has mirrored Bitcoin's weakness, with major altcoins like Ethereum (ETH), XRP, and BNB approaching their support levels without generating strong bounce momentum. This lack of conviction among traders has raised concerns about a potential cascade of breakdowns across the top 10 cryptocurrencies.