Bitcoin Price Falls Below $104k Amid Market Correction
On November 11, Bitcoin price fell below $105,000 and dropped under $104,000, trading around $103,963 on Binance USDT. The decline reflects a market correction driven by shifts in investor and institutional sentiment, technical resistance tests, macroeconomic pressures and profit-taking. Traders should monitor Bitcoin price volatility through trading volume, support and resistance levels, institutional flows, regulatory developments and technical indicators. Risk mitigation strategies include dollar-cost averaging, predefined entry and exit points, stop-loss orders, diversification across crypto assets and a long-term perspective. Key support levels at $100,000 and $95,000 may attract buying interest. Historical patterns show rebounds often follow similar corrections.
Bearish
The drop below $104k underscores bearish pressure as institutional profit-taking and macroeconomic concerns trigger a market correction. In the short term, increased selling and technical resistance tests may push Bitcoin toward key support zones, favoring negative price action. However, historical rebound patterns suggest long-term accumulation by investors, offering potential recovery opportunities after the correction phase.