Bitcoin continues to struggle after October’s weak performance, starting November on the back foot with a dip toward the key $107,000 support. This move signals that bears are trying to tighten their grip again. Institutional demand has cooled off Bitcoin ETFs saw net outflows of around $799 million last week, according to Farside Investors.

Capriole Investments founder Charles Edwards noted that institutional buying recently dropped below Bitcoin’s daily mined supply for the first time in seven months not a great sign for the bulls. Still, there’s a small glimmer of hope. Historically, November has been one of Bitcoin’s better months, with an average gain of over 42%, according to CoinGlass. But traders shouldn’t rely too much on history BTC has also finished November in the red four times since 2018. This means the market could swing either way, depending on how macro conditions and ETF flows play out in the coming weeks.

Bitcoin faced sharp selling pressure after failing to hold above the 20-day EMA at $110,837 on Monday. The rejection pushed BTC below the key $107,000 support — a level traders have been watching closely. A decisive close below this zone would confirm a double-top pattern, hinting that a deeper corrective phase may be underway. If that plays out, Bitcoin could slide toward the crucial psychological mark at $100,000.

Bulls are expected to defend that level aggressively, as a sustained drop below it could shift the market into a bearish trend. For the bulls to regain control, BTC needs to reclaim the moving averages and build momentum above them. A push past $118,000 would likely shift sentiment back in favor of the buyers and could spark a renewed rally toward the higher end of the range. Until then, the short-term outlook remains cautious, with sellers holding a slight edge. Ether also came under pressure, turning lower from its 20-day EMA near $3,937 and breaking below the support line of its descending channel. The downsloping moving averages and an RSI reading below 37 show that bears currently have the upper hand. If ETH closes below the channel support, it could drift toward the $3,435–$3,350 demand zone, where buyers may look to step in. However, if Ether bounces back sharply from current levels and breaks above the moving averages, it would suggest that the market has rejected the breakdown. In that case, ETH could make another run at the channel’s resistance line, keeping its broader range structure intact. Trader’s Outlook BTC is at a key inflection point — holding above $107,000 could spark a short-term rebound, while a confirmed close below that level may drag the pair toward $100,000. Bears remain in control for now, but any move back above $112,000 could tilt momentum in favor of buyers. ETH looks weak in the short term but oversold conditions could trigger a relief bounce. Watch for a potential retest of $3,935–$4,000 if buyers step back in.

If the breakdown holds, a slide toward $3,350 remains likely. Both BTC and ETH are testing critical support zones — traders should stay nimble as volatility could pick up around these levels.

Lastly please check out the advancement’s happening in the cryptocurrency world

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