Bitcoin News Today: Bitcoin's $94K Make-or-Break Test: Stabilization or Deeper Collapse?

Bitcoin faces a critical juncture as prices hover near key support levels, with analysts warning of a potential deepening correction amid heightened volatility triggered by Federal Reserve policy uncertainty and liquidity strains. The world's largest cryptocurrency has fallen below $95,000, testing the 2x Metcalfe Network Value band at $91,000 and the 61.8% Fibonacci retracement level at $94,253 according to analysis. A breakdown below these thresholds could see further declines toward the 100-week EMA at $85,508 or the 23.6% Fibonacci retracement level at $84,000 as market data shows.

Technical indicators underscore bearish momentum, with the weekly Relative Strength Index (RSI) at 41 and the Moving Average Convergence Divergence (MACD) showing a sustained bearish crossover according to technical analysis. On the daily chart, Bitcoin's rejection at the 38.2% Fibonacci level at $106,453 and subsequent 6% drop highlight fragile market sentiment as market data indicates. The 50-week EMA at $100,862, a historical support level, has been breached, raising concerns that the two-year uptrend could collapse.

Bitcoin researcher Axel Adler Jr. noted that "there is no support left in the market," as short-term holder realized price bands have flipped into resistance according to market analysis.

The FOMC's upcoming minutes add to the uncertainty, with markets bracing for signals on monetary policy. Key economic data remains scarce, leaving investors in limbo ahead of potential rate cuts. Meanwhile, liquidity pressures have intensified, with BlackRock's Bitcoin ETF experiencing a record $463.10 million outflow on Nov. 14 - the largest since its launch according to market reports. Other major ETFs, including Fidelity's FBTC and Grayscale's GBTC, also saw significant redemptions, exacerbating downward pressure.

Institutional activity offers a mixed picture. Harvard University tripled its stake in BlackRock's Bitcoin ETF, holding 6.8 million shares valued at $442.8 million as of Sept. 30. However, this bullish move contrasts with broader market distress, as total ETF outflows reached $1.1 billion in the week ending Nov. 14. CryptoQuant CEO Ki-Young Ju highlighted a potential stabilizing zone near $94,000, tied to the cost basis of 6- to 12-month holders according to market analysis. A sustained rebound above this level could signal a technical floor, but failure to hold risks accelerating losses according to market forecasts.

Analysts remain divided on Bitcoin's near-term trajectory. While some, like Ledn CIO John Glover, predict a bear market trajectory extending through mid-2026, others see a potential rebound. Derek Lim of Caladan noted that liquidity strains, exacerbated by the U.S. government shutdown, are temporary and likely to reverse as spending resumes according to market analysis. Japan's $110 billion stimulus package could further ease global liquidity, he added. Meanwhile, Bitcoin's weekly Stochastic RSI has entered oversold territory, historically signaling early stages of a new bullish wave.

The path forward hinges on Bitcoin's ability to reclaim key resistance levels, including the 50-week EMA at $103,000 according to market analysis. A sustained close above this level could reinvigorate bullish sentiment, while a prolonged stay below it would confirm a broader correction. As the market navigates this inflection point, investors are closely watching for signs of capitulation or stabilization - a critical test for both Bitcoin and the broader crypto ecosystem.