Bitcoin Price Today: BTC Price Targets $98K–$104K Zone After Bounce From Descending Channel

Bitcoin rebounded after hitting the $93,000 range on November 17, 2025, suggesting a potential short-term recovery, although caution remains due to volatility. The recent dip coincided with an unfilled CME gap near $92,000, a level that often attracts liquidity. Market observer TedPillows noted that reclaiming $98,000 is key for a local bottom, supported by rising accumulation from large holders ("whales"). Institutional activity, however, showed a negative Coinbase Bitcoin Premium Index (-1.2%), indicating weaker U.S. spot demand or temporary selling pressure from institutions. Technically, Bitcoin has bounced from a descending channel, which analyst MrMartin_11 suggests could signal a trend reversal, targeting the $98K–$104K resistance band if bulls sustain momentum above key resistance. Key risks include failure to hold $98,000, renewed institutional selling, or adverse macro factors.

(Source：Brave New Coin)