Bitcoin Price Crashes to $106,000 As Bulls Eye Strong November

Bitcoin's price extended its losses, dropping to lows around $105,200 after October ended negatively for the first time since 2018, amid tighter financial conditions and macroeconomic headwinds. The recent correction follows an earlier flash crash to $104,000, leaving BTC about 14% below its recent peak near $125,000. Technically, Bitcoin tested key support levels, and analysts suggest the current demand area could provide a bounce. On-chain data shows the Short-Term Holder (STH) Realized Price around $113,000 acting as dynamic support, bolstering confidence. Furthermore, MVRV metrics project potential resistance levels between $160,000 and $200,000. Despite the dip, Fundstrat's Tom Lee remains bullish, predicting a surge to $150,000–$200,000 by the end of 2025, while Strategy reinforced its accumulation, purchasing 397 BTC.

(Source：Bitcoin Magazine)