Bitcoin Drops Below $103K, Eyes $100K Support
Over the week, bitcoin (BTC) price on OKX fell below $103,000—trading at $102,883.10 on November 12 (-0.57%)—following an earlier dip under $101,000 on November 7 ($100,946.50, ‑1.05%). These declines highlight short-term bearish momentum in the cryptocurrency market amid rising volatility, profit-taking and macroeconomic uncertainties. Traders will watch $100,000 support, $102,000 resistance, trading volume and macro signals for clues on the next bitcoin price direction.
Bearish
Bitcoin’s consecutive intraday declines under the crucial $103,000 and $101,000 support levels signal intensifying short-term bearish sentiment. Elevated volatility and profit-taking—amplified by macroeconomic uncertainties—are likely to sustain selling pressure, with traders closely watching the $100,000 psychological support. In the near term, this could lead to further dips if support fails, while a hold above $100K may stabilise prices. Thus, the immediate impact is bearish, though longer-term recovery will depend on broader market catalysts and volume dynamics.