Bitcoin News Today: Bitcoin's $106K Support Becomes Bull-Bear Battleground as Derivatives Diverge

Generated by AI AgentCoin WorldReviewed byAInvest News Editorial Team
Friday, Nov 7, 2025 10:05 am ET1min read
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-

Bitcoin
fluctuates near $100K as price drops 2.7% in 24 hours, with 14% decline from its $126K all-time high.

- Derivatives data shows 62.6% higher trading volume but falling open interest, signaling short-term uncertainty and position closures.

- Binance's CVD indicator drops to 0.777 from 0.91, suggesting waning demand from large traders despite stable BTC prices.

- Technical indicators highlight $106K support and $111K resistance, with risks of stagnation if CVD falls below 0.70.

- Institutional demand and macroeconomic factors remain key long-term drivers despite current bearish momentum.

Bitcoin crisscrosses $100K as

BTC
price 'bottoming phase' begins

Bitcoin's price slid below $108,000 on November 2, marking a 2.7% decline in the past 24 hours amid shifting market dynamics. The cryptocurrency now trades at $107,607, a 14% retreat from its all-time high of $126,080 set on October 8. While the asset's 24-hour trading volume surged 62.6% to $44.3 billion, signaling heightened short-term participation, derivatives data and exchange metrics suggest fading bullish momentum, according to a

Crypto.News analysis
.

The mixed signals come as

Bitcoin
oscillates between $106,786 and $115,957 over the past week, with a 6.4% weekly drop and a 12% monthly decline. Coinglass data reveals a 44.46% increase in Bitcoin derivatives volume to $73.07 billion, yet open interest fell 1.22% to $69.80 billion. This divergence indicates rising trading activity but frequent position closures, reflecting short-term uncertainty, the Crypto.News analysis notes.

Binance, the world's largest crypto exchange, has emerged as a focal point for analyzing market sentiment. The platform's cumulative volume delta (CVD) indicator, a metric tracking the relationship between buying pressure and price action, dipped to 0.777 at the start of November-a significant drop from October's 0.91 highs. Arab Chain, a CryptoQuant contributor, noted this decline suggests waning demand from large traders despite Bitcoin's relatively stable price, the Crypto.News analysis reports.

The disconnect between buying flows and price action raises concerns about the sustainability of current support levels. While Bitcoin has held above $106,000, analysts caution that this resilience may stem from positioning and sentiment rather than fresh liquidity. Coindream, another CryptoQuant contributor, highlighted that Binance's Bitcoin reserves have grown amid the price decline, further signaling reduced bullish alignment, the Crypto.News analysis adds.

Technical indicators lean bearish, with key support at $106,000 and resistance near $111,000. A potential correction or period of stagnation looms if the CVD falls below 0.70, a threshold that could trigger a broader reassessment of market fundamentals, the Crypto.News analysis warns. Despite the short-term headwinds, the overall market structure remains positive, with institutional demand and macroeconomic factors still playing a pivotal role in shaping Bitcoin's trajectory.