Bitcoin’s price has dipped to around $103,000, breaching key support levels and signaling market fragility. The next major support stands at $99,000, where historical data shows strong buyer interest could stabilize the downturn, according to on-chain metrics from Glassnode.
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Bitcoin lost its $109,000 cost basis support, where 85% of supply was profitable, per Glassnode analysis.
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The Crypto Fear and Greed Index has fallen to 21, indicating extreme fear amid ongoing selling pressure.
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Whale activity includes a 14-year holder selling 10,000 BTC for over $1 billion, though new wallets absorbed some sales.
Bitcoin price support at $99,000 emerges after $103,000 dip amid whale sales and fear index plunge. Explore analysis on BTC’s rebound potential and market signals for investors in 2025.
What Is Bitcoin’s Next Key Support Level After the Recent Dip?
Bitcoin’s next key support level after dipping below $104,000 is at $99,000, based on cost basis data from Glassnode, representing the 75th percentile where significant buyer accumulation has historically formed a floor. This level could act as a local market bottom if selling pressure eases, preventing further declines toward lower thresholds. The breach of the $109,000 mark, where 85% of the supply was in profit, has heightened concerns but also highlighted resilient long-term holding patterns among investors.
How Is Whale Activity Influencing Bitcoin’s Price Support?
Whale movements are playing a pivotal role in Bitcoin’s current price dynamics, with notable sales adding to the downward pressure. A long-term holder, who accumulated 10,000 BTC over 14 years at an average cost of just $1.54, recently liquidated their position for more than $1 billion, contributing to the slide below $103,000. However, this selling was partially offset by new wallets entering the market to buy the dip, demonstrating ongoing demand at lower levels. Glassnode reports indicate that while profit-taking persists, the majority of Bitcoin remains in long-term holdings, which could bolster support around $99,000. Expert analysts, such as those from on-chain research firms, note that such whale activity often precedes stabilization periods, as seen in previous cycles where absorption by retail and institutional buyers prevented deeper capitulations. Short sentences underscore the balance: selling increases fragility, but buying counters it, and data shows no mass exodus yet.
BTC crashed to $103,000 a day after losing the $109,000 cost-basis support from recent buyers. | Source: CoingeckoBitcoin’s price action extended losses from Monday, slipping into the $103,000 range and testing investor resolve. The leading cryptocurrency has now shed over $20,000 from its recent record highs, fueling discussions about a potential shift into bear market territory. On-chain metrics from Glassnode reveal that the $109,000 cost basis, a critical threshold for profitability across 85% of the circulating supply, has been lost, leaving traders eyeing the $99,000 level as the next line of defense.
Market sentiment has soured rapidly, with the Crypto Fear and Greed Index plummeting to 21 points, reflecting extreme fear among participants. Just days ago, the index hovered in neutral territory around 50, but the swift downturn in Bitcoin’s price has triggered a wave of cautious trading. Retail investors and large whales alike have engaged in profit-taking, exacerbating the decline, yet the absence of widespread panic selling suggests underlying strength in the ecosystem.
During this period of volatility, significant whale transactions have come to light. The sale by the aforementioned 14-year holder underscores a willingness among some long-term investors to lock in gains after years of appreciation. Despite this, fresh inflows from new addresses indicate that opportunistic buyers are stepping in, potentially forming a base for recovery. Coingecko data corroborates the price levels, showing Bitcoin briefly touching $103,668 before a minor rebound.
Bitcoin has lost support at the 85th percentile cost basis (~$109K) and is now hovering near $103.5K.
The next key level sits around the 75th percentile cost basis (~$99K), which has historically provided support during pullbacks.📉 pic.twitter.com/IPsYmBbxyl
— glassnode (@glassnode) November 4, 2025
Bitcoin demonstrated resilience shortly after the dip, climbing back above $104,000 within minutes, a sign that selling pressure may be exhausting itself. The market has so far managed to absorb substantial whale outflows without descending into full capitulation, maintaining a core of long-term holders who view current levels as attractive entry points.
Frequently Asked Questions
What Caused Bitcoin’s Recent Dip Below $104,000?
Bitcoin’s dip below $104,000 stemmed from a combination of profit-taking by long-term holders and increased selling from whales, coupled with broader market fragility. On-chain data from Glassnode shows the loss of the $109,000 cost basis support, where most supply was profitable, triggering further downside. This move aligns with the Crypto Fear and Greed Index dropping to extreme fear levels at 21, prompting cautious positioning among traders.
Is Bitcoin Headed for a Bear Market After This Support Breach?
While the breach of key supports raises bearish concerns, Bitcoin’s trajectory depends on upcoming weekly closes and broader sentiment. A close below $103,000 could signal deeper corrections, but historical patterns, including rebounds from similar levels in late 2024, suggest potential for recovery. Long-term outlooks remain bullish, with many analysts anticipating new highs despite short-term pain, as on-chain metrics show sustained holder conviction.
Looking ahead, predictions from platforms like Polymarket indicate a strong likelihood—over 70% as of recent data—of Bitcoin returning to $100,000 soon. This uptick in probability from 60% within a day reflects growing optimism amid the volatility. Traders are monitoring open interest, which has declined to $32.6 billion, as participants await clearer directional cues before re-entering positions aggressively.
The potential for a short squeeze appears limited based on liquidation heatmaps, which show reduced liquidity buildup compared to prior rallies. Previously, shorts clustered around $112,000 and $115,000, but those have cleared out. Current short positions are thinner near $108,000, suggesting less fuel for a sharp upside move in the immediate term. Nonetheless, Bitcoin’s history of rapid reversals keeps possibilities open.
As November progresses, Bitcoin mirrors early 2024 patterns that eventually led to a year-end surge. While short-term corrections inflict losses—placing the asset over $20,000 below its peak—the long-term narrative points to renewed all-time highs. Investors are advised to watch the $99,000 support closely, as it could define whether this downturn evolves into a buying opportunity or extends into prolonged weakness.
Overall, the cryptocurrency market’s maturity is evident in how it handles such events. Extreme fear indices often precede rebounds, and with Bitcoin’s supply dynamics favoring holders, the $99,000 level may indeed hold as a pivotal support. Staying informed on on-chain developments from sources like Glassnode will be crucial for navigating this phase.
Key Takeaways
- Support at $99,000: This level, tied to the 75th percentile cost basis, has historically acted as a strong floor during pullbacks, per Glassnode metrics.
- Extreme Fear Sentiment: The Crypto Fear and Greed Index at 21 signals caution, but often marks bottoms where accumulation begins.
- Whale Absorption: Despite major sales like the $1B liquidation, new buyers are stepping in, preventing deeper market capitulation.
Conclusion
In summary, Bitcoin’s price support at $99,000 stands as a critical threshold following the recent dip to $103,000 and the breach of higher cost basis levels. Whale activity and fear-driven selling have intensified the downturn, yet resilient buying and historical patterns suggest potential stabilization. As Bitcoin’s next key support level is tested, investors should prepare for volatility while eyeing Polymarket’s optimistic rebound odds. Looking forward, this correction could pave the way for Bitcoin’s return to $100,000 and beyond, reinforcing its long-term growth trajectory in 2025.
