Bitcoin price today trades near $102,700 as sellers press against the psychological $100,000 support zone. The drop followed a decisive break below the daily trendline and a cluster of key EMAs between $108,000 and $112,000. Spot flows confirm distribution, not accumulation, with a net outflow of nearly $57 million in the past 24 hours.
Bitcoin price today trades near $102,700 as sellers press against the psychological $100,000 support zone. The drop followed a decisive break below the daily trendline and a cluster of key EMAs between $108,000 and $112,000. Spot flows confirm distribution, not accumulation, with a net outflow of nearly $57 million in the past 24 hours.
Bitcoin lost the rising trendline that guided the entire summer rally. The rejection began near $112,000, where the 20, 50 and 100 day EMAs converged. Each attempt to reclaim that zone resulted in immediate selling.
The current decline is not a simple pullback. It is a structural trend shift. Price now trades below every major EMA. The 200 day EMA sits near $108,200 and now acts as overhead resistance. Until price closes back above that zone, the market remains in correction mode.
The chart shows Bitcoin moving deeper into the demand region between $100,000 and $98,000. This area served as a springboard for multiple rallies earlier in the year. Losing it would remove the strongest base the market has.
Data shows a net outflow of roughly $57.2 million today as of November 6th. This indicates that holders are sending coins to exchanges rather than accumulating. The trend mirrors what happened before the August correction, when sustained outflows preceded a multi week decline.
Flows matter because spot buying initiated the original breakout above $100,000 in the first place. Without renewed inflows, price lacks fuel for a bullish reversal.
ETF flows have also cooled across several large products, adding to the short term imbalance between supply and demand.
Futures data shows traders reducing exposure. Open interest slipped to about $68.5 billion, down from last week’s peak. When open interest falls along with price, it signals liquidation of long positions rather than aggressive shorting.
This aligns with the spot outflow pattern. Bulls are not defending the move. They are reducing risk.
Liquidation metrics confirm the same sentiment shift. In the past 24 hours, nearly twenty one million dollars of long positions were forced out of the market. Short liquidations remain minimal, showing no evidence of panic from bears.
The shift in futures positioning shows the market is moving from leverage driven upside to cash driven selling.
Bitcoin sits at a pivotal point. The break below the trendline and the EMA cluster puts sellers in control. Spot outflows and falling open interest confirm buyers are stepping aside, not stepping in.
Right now, the market is reacting to flows and technical rejection. If buyers cannot defend $100,000, the correction deepens. If they can, Bitcoin returns to trend.
