Bitcoin's price has continued its decline in early November 2025, falling to the $104,000 range, with analysts forecasting further drops into five-digit territory. This downturn has sparked widespread fear and bearish sentiment, as many believe the four-year bull cycle has ended, leading to a potential bear market. The crypto market's rough start to the month is underscored by falling prices for Bitcoin, Ethereum, and altcoins, with sentiments hitting lows and FUD rising among traders.
Bearish analysts point to the completion of the typical bull cycle timeline, noting that the days accounted for suggest the bullish phase is over. One analyst has been predicting a drop to $66,000 since August, citing a $20 billion liquidation event last month as a key indicator. Another highlights bearish technical signals, including divergences on RSI and stoch RSI, and similarities to the 2021 cycle top, reinforcing the view that a bear market has begun.
In contrast, a minority of analysts remain bullish, drawing on historical data. They recall that in November 2024, Bitcoin fell from $71,000 to $66,000 before surging 60% to $108,000 in just 45 days, with Ethereum pumping 75% and the altcoin market cap jumping 138%. These optimists suggest a parabolic run could be imminent, citing factors like Fed rate cuts, the end of QT, potential QE, a crypto market bill, a US-China trade deal, gold topping, and U.S. stocks hitting new ATHs. One trader plans long orders in the $100,000-$103,000 range, estimating a 70% probability of a bottom forming.
BNB
PEPE
SOL
USDC
FIL
XTZ
NEAR