On the 17th anniversary of its White Paper, Bitcoin ($BTC ) trades around $108,541 with a $2.16 trillion market cap and 59.38% dominance. The price is down 1.62% in 24 hours with $69.9 billion in volume.
• Market sentiment has shifted to "Fear," with the Fear & Greed Index at 31. A recent price correction triggered $1.1 billion in liquidations over the past 24 hours, primarily affecting long positions.
Key Driving Factors
• The market pulled back after the U.S. Federal Reserve signaled uncertainty over a December rate cut, causing a "sell the news" reaction and a $470 million outflow from spot Bitcoin ETFs.
• The scheduled end of the Fed's quantitative tightening (QT) on December 1, 2025, is expected to increase market liquidity, a historically positive catalyst for Bitcoin.
• Despite volatility, long-term holder confidence remains strong. Prominent advocate Michael Saylor reinforced his bullish stance as MicroStrategy continues to hold over 640,000 BTC.
Technical Analysis & Trading Strategy
• Bitcoin has established strong support around the $106,000 - $107,000 level. Immediate resistance is at the Bollinger Band mid-line of $108,844, with a key hurdle at $111,124.
• Short-term indicators on the 1H chart are bullish, with a MACD golden cross and the EMA(7) above the EMA(25). However, the hourly RSI(6) at 69.3 is approaching overbought territory.
• A break above $111,200 could target the $113,000 zone. The $106,000 level serves as critical support; a break below could risk a deeper correction towards $88,000.
