Bitcoin price prediction: BTC sentiment falls to seven-month low on heavy liquidation wave

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Sholanke Dele

04.11.2025

Bitcoin price prediction: BTC sentiment falls to seven-month low on heavy liquidation wave — Bitcoin slides 2% to $104,200

Bitcoin price intensified its bearish tone on Tuesday, November 4, as traders faced renewed selling pressure that carried over from the month’s opening decline and the prior bearish stretch in October. In the European session, Bitcoin traded near $104,200, having opened at $106,600, reflecting a 2% drop that pushed November’s cumulative loss to more than 5%.

- Bitcoin slides 2% to $104,200 as traders confront renewed November selling pressure.

- Long-term holders sold $43 billion BTC, deepening fear and weakening market conviction.

- RSI at 37 and $108,000 resistance confirm persistent bearish control over Bitcoin trend.

The decline followed a period of sideways movement and low volatility through the Asian session before volume spiked sharply in the European session opening, reinforcing the bearish sentiment. Market sentiment worsened as Bitcoin briefly fell below $106,000 for the first time in more than three weeks. The Binance Fear & Greed Index fell to 21, its lowest reading in seven months, marking “Extreme Fear.” That sentiment collapse aligns directly with the recent wave of long-term holders offloading large portions of their Bitcoin holdings.

Bitcoin price dynamic (Nov 2024 - Nov 2025). Source: Tradingview

According to CryptoQuant, long-term holders sold more than $43 billion worth of BTC over the past month, a move that magnified selling pressure and confirmed the ongoing fear across the market. The profit-taking wave follows “Red October,” a month that weakened both retail and institutional demand after multiple failed attempts to hold key technical levels.

Bitcoin short-term outlook hinges on buyers’ strength around $104,000 key support

At the current level, Bitcoin sits on a critical support zone that has served as a price floor since July. This area now faces growing vulnerability from the strong bearish momentum. A breakdown could expose the next major psychological level at $100,000 for a test later in the week.

Despite the sharp declines, the Relative Strength Index (RSI) on the daily chart still reads at 37, not yet in oversold territory. This indicates that bearish momentum remains active and could persist before any meaningful recovery forms. On the 4-hour chart, the 20 EMA reinforces the $108,000 resistance level, creating a ceiling for any potential intraday rebound.

Overall, the correlation between retail fear, large holder liquidations, and technical breakdowns shows that Bitcoin’s short-term sentiment is firmly bearish. Unless fresh buying emerges around the current support zone, the market may continue to slide toward $100,000, as traders adjust to sustained selling and low conviction in early November.

We discussed Bitcoin sliding below $108,000 as major whale deposits triggered renewed selling pressure. BTC RSI signalled oversold conditions, while ETF outflows sustained short-term bearish sentiment.

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