Bitcoin’s price has continued to slide, reaching a low of $105,200 today, marking the end of a remarkable seven-year streak of positive performance in October. The cryptocurrency closed October down by 4%, breaking a streak of monthly gains that dates back to 2018. This decline is attributed to a combination of tighter financial conditions, a cautious approach from institutional investors, and broader macroeconomic challenges.
The recent downturn is compounded by an early October flash crash that saw Bitcoin plummet to $104,000, erasing much of the momentum gained during the third quarter. Currently, Bitcoin’s price sits at approximately $106,234, roughly 14% lower than its recent peak of around $125,000.
Technical analysis indicates that Bitcoin has been testing several support levels. On the daily chart, it has remained within a key demand area which has historically served as strong support. This area has been known to trap sellers, leading to subsequent price bounces, suggesting that Bitcoin may find short-term support here once again.
Diving deeper into the price action, a 15-minute chart reveals the formation of a clean demand zone, which could act as a crucial point for Bitcoin’s next move. Market professionals highlight that such setups often lead to price movements that catch anxious traders off guard.
On-chain data sheds light on Bitcoin’s current market position. The Short-Term Holder (STH) Realized Price, representing the average entry price for more recent investors, is around $113,000. Historically, this price level has functioned as a dynamic support zone, indicating potential for accumulation and future upward movements. Maintaining a price above this threshold suggests that short-term holders are either breaking even or enjoying slight profits, enhancing overall market confidence.
Additionally, the STH Market Value to Realized Value (MVRV) Ratio points towards possible upside, with projections indicating resistance levels between $160,000 and $200,000 based on historical patterns. Long-Term Holder (LTH) MVRV metrics support this optimistic outlook, suggesting diminishing returns yet possible peaks around $163,000 to $165,000.
Rolling MVRV frameworks, assessed over two-year and 100-day periods, indicate that Bitcoin is still in an accumulation-friendly phase, offering optimal entry points ahead of the anticipated bullish trend.
In a bullish development, Fundstrat’s Tom Lee expressed optimism regarding Bitcoin’s trajectory. He forecasts that the cryptocurrency could rise to between $150,000 and $200,000 by the end of 2025, despite the recent market volatility. This prediction follows a significant liquidation event in mid-October, recognized as the largest in cryptocurrency history, surpassing even the fallout from the FTX collapse.
Moreover, Strategy has reinforced its commitment to Bitcoin accumulation, recently purchasing 397 BTC for approximately $45.6 million at an average price of $114,771 per Bitcoin. As of a November 3, 2025 SEC Form 8-K filing, Strategy has amassed a total of 641,205 BTC, with a cumulative purchase cost of $47.49 billion and an average price of $74,057 per Bitcoin, inclusive of fees and expenses.
