Bitcoin News Today: Bitcoin Falls Below $100K as Analysts Clash Over Bearish and Bullish Outlooks

Bitcoin fell below $100,000 on Nov. 7, marking a 2.8% decline over the past 24 hours, as macroeconomic uncertainties and institutional outflows deepened a bearish sentiment across the cryptocurrency market. The price slide has reignited debates about Bitcoin's short-term trajectory, with analysts highlighting key support levels and diverging forecasts for the remainder of 2025.

The recent drop follows a sharp reversal from Bitcoin's October peak of $126,080, where it lost nearly 15% of its value in just two weeks, as a crypto.news analysis noted. A confluence of factors has pressured the asset: the Federal Reserve's muted stance on rate cuts, escalating U.S.-China trade tensions, and a surge in spot Bitcoin ETF redemptions. Over $2 billion has been withdrawn from U.S. Bitcoin ETFs since Oct. 29, according to Coinrise data, with BlackRock's IBIT and Fidelity's FBTC leading the outflows. Meanwhile, institutional investors pulled nearly $800 million from Bitcoin and Ethereum ETFs last week, signaling caution ahead of potential government shutdowns and uncertain macroeconomic data, according to a TradingView report.

Technical analysts have identified $113,000 as a critical resistance level and $100,000 as a key support. A sustained close above $113,000 could invalidate the bearish outlook, while a breakdown below $100,000 risks further losses to $88,000, a level analysts warn could trigger liquidations among short-term holders, the TradingView report added. The $100,000 threshold has historically acted as a floor during past corrections, but its effectiveness in the current environment remains untested.

Market participants are also grappling with diverging institutional views. Cathie Wood's Ark Invest slashed its Bitcoin price target from $185,000 to $120,000, citing a "maturity era" marked by lower volatility and institutional adoption, according to a Yahoo Finance report. Conversely, JPMorgan raised its fair value estimate to $170,000, arguing Bitcoin is replacing gold as a store of value and absorbing nearly 1.8 times more risk capital, per a Blockonomi report. Tether's recent purchase of 961 BTC ($97 million) during the dip has been interpreted as a bullish signal, though retail investors remain skeptical amid Crypto Twitter's bearish chatter — a development also discussed in the Blockonomi piece.

The selloff has spilled over into traditional markets. Block Inc., whose Cash App platform processes significant Bitcoin transactions, reported third-quarter revenue of $1.97 billion, below expectations, according to a Barron's analysis. Shares in the company tumbled 14% premarket, exacerbating concerns about Bitcoin's role in its business model. Meanwhile, Bitcoin miner Cipher Mining announced a $1.4 billion fundraising to expand AI data centers in Texas, reflecting a broader industry pivot away from crypto mining toward high-performance computing, a move covered in a CryptoRank report.

Looking ahead, the market's focus is shifting to December's potential "Santa Rally," driven by the end of quantitative tightening and possible rate cuts, the TradingView report observed. However, the path to recovery remains contingent on Bitcoin holding above $113,000 and improved liquidity. With macroeconomic risks persisting-including AI-driven energy demand and U.S. Supreme Court scrutiny of Trump-era tariffs-the cryptocurrency's next move could hinge on institutional confidence and geopolitical stability.