Bitcoin News Today: Bitcoin's $103k Standoff: Bearish Tech and Bullish Bets Collide

Bitcoin slid near $103,000 on Nov. 8, 2025, as uncertainty over the Federal Reserve's December rate-cut timeline deepened, with technical indicators and market sentiment split between bearish consolidation and long-term bullish optimism. The cryptocurrency traded at $101,987, fluctuating within a $99,376–$103,956 range, reflecting a narrow consolidation phase following a recent pullback from its mid-October peak near $126,272, according to Bitcoin Price Watch. Analysts noted that key support at $98,900 and resistance at $104,000 would likely dictate near-term direction, with a breakout above the latter signaling a potential resumption of the upward trend.

The bearish bias was reinforced by technical metrics, including a bearish trend confirmed by lower highs and lower lows on the daily chart and all major moving averages sloping downward, as noted in Bitcoin Price Watch. The MACD and awesome oscillator both indicated downward momentum, while the ADX reading of 25 highlighted a non-trending environment. However, oscillators like the RSI (37) and stochastic oscillator (19) suggested neutral to mildly positive sentiment, hinting at potential accumulation near $100,000, according to Bitcoin Price Watch.

Amid the volatility, high-profile figures remained bullish. Cathie Wood, CEO of ARK Invest, reiterated her $1 million price target for Bitcoin, citing the maturation of the cryptocurrency ecosystem and the surge in stablecoin adoption, which recently surpassed $300 billion in total value, per Cathie Wood's statement. She argued that Bitcoin's long-term trajectory hinges on institutional adoption and macroeconomic stability, with conditions expected to improve by mid-December following Fed updates and employment data.

Eric Trump, son of Donald Trump, also voiced confidence, calling Bitcoin a "world-class asset" and predicting it could reach $1 million in the long run. He emphasized growing demand from institutional investors and Fortune 500 companies, as well as the role of Bitcoin ETFs and retirement plans in broadening accessibility, according to Eric Trump's Bitcoin comment.

Market dynamics were further shaped by strategic moves from crypto firms. Strategy, a Bitcoin-focused investment firm, upsized its Stream Perpetual Preferred Stock (STRE) offering to €620 million ($715 million) to fund future BTC purchases, with CEO Michael Saylor stating the move would bolster liquidity for "general corporate purposes," as reported in Strategy's STRE update. The firm now holds 641,205 BTC, or 3.05% of the circulating supply, and has continued accumulating despite Bitcoin's recent dip below $100,000.

Meanwhile, broader market sentiment remained cautious. The U.S. government shutdown, which ended on Nov. 11, had exacerbated liquidity constraints, forcing crypto prices to stabilize around $105,349 for Bitcoin and $3,564 for Ethereum, according to Crypto prices today (Nov. 11). Analysts suggested that the resolution of the shutdown could trigger a short-term relief rally, though risk-on appetite remained fragile amid ongoing Fed uncertainty.

Bullish and bearish scenarios diverged sharply. A sustained close above $104,000 on rising volume could spark a renewed uptrend, while a breakdown below $98,900 would likely extend the decline toward $95,000, as noted in Bitcoin Price Watch. For now, the market appears in limbo, with traders closely watching the Fed's policy path and key technical levels for a decisive catalyst.