Bitcoin experienced a notable drop below $100,000 on several occasions this past week, a significant development marking the first time since June. This price action has introduced a fresh wave of uncertainty among market observers and participants regarding the current state of the bull market.
Key Support Levels Identified
A prominent analyst, Ali Martinez, has identified critical support levels should Bitcoin decisively break below the $100,000 mark and enter five-digit price territory.
Three key Bitcoin $BTC support levels to watch, based on the Pricing Bands:
• $98,340
• $75,475
• $55,980 pic.twitter.com/1tCNyM9J1Z— Ali (@ali_charts) November 7, 2025
The $98,340 level was tested during a significant price decline on Tuesday evening, when Bitcoin dipped below $99,000. While this level has held so far, a decisive break below it would likely lead to the next support levels, situated much lower, potentially signaling the end of the current bull market.
Signs of Returning Demand
Amidst the concerning price action, data indicates a resurgence in demand for Bitcoin after several weeks of apparent absence. Analysis from CW suggests that periods of substantial negative apparent demand have historically been followed by a positive shift, which could be a favorable sign for Bitcoin's short-term outlook.
The apparent demand of $BTC has turned positive again.
The market sentiment is changing. Buying demand is increasing again. pic.twitter.com/9tpOUoY0zQ
— CW (@CW8900) November 8, 2025
Potential Resistance Levels
Should Bitcoin embark on a sustained market recovery, the first significant resistance level to watch is $106,000. Following that, a more substantial barrier is located at $111,600. This latter level is notable because over 140,000 BTC were accumulated in this price range. Martinez has highlighted this cluster of units purchased around $111,600 as a "strong resistance barrier."
Current Market Snapshot
As of the latest reporting, Bitcoin is trading sideways around $102,000. This follows a substantial 17.5% decline over the past month. Bitcoin's market capitalization is currently reported at $2.030 trillion, having briefly fallen below the critical $2 trillion threshold.