Bitcoin price prediction: BTC risks fresh slide below $100K as short covering fades

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Sholanke Dele

06.11.2025

Bitcoin price prediction: BTC risks fresh slide below $100K as short covering fades — Bitcoin slips near $102,700

Bitcoin price slipped back into the red on Thursday after a short-lived rebound failed to attract sustained buying interest. The flagship cryptocurrency traded around $102,700 in the early Asian session, down 1.1%, before recovering slightly to trim losses to 0.5% in the European hours. The decline followed a brief 2.5% gain on Wednesday that lifted prices to $104,600, a level sitting inside a strong resistance zone between $104,000 and $105,000, which had served as a base for nearly five months.

- Bitcoin slips near $102,700 after weak rebound fails to attract sustained buying interest.

- Volume imbalance between rebounds and selloffs confirms dominant bearish continuation phase for BTC.

- AI sector weakness intensifies risk-off sentiment, keeping Bitcoin below $105,000 resistance zone.

The rebound had initially helped ease fears across the crypto market, as the Binance fear and greed index rose from 20 to 24, reflecting mild improvement in sentiment. However, trading volume supporting the recovery weakened late in the North American session, suggesting that the move was driven more by short covering than genuine accumulation. That exhaustion allowed sellers to regain control as broader bearish momentum returned.

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

Technically, Tuesday’s selloff showed strong conviction as it marked the largest trading volume in two weeks, indicating heavy liquidation pressure. By contrast, the lack of volume on Wednesday’s rebound confirmed that the recovery was only a temporary stabilization. The structure points to an ongoing bearish continuation phase, especially since all the 20, 50, and 100-day exponential moving averages have aligned to the downside, confirming a short-term downtrend bias.

BTC correlation to tech sector drives renewed volatility across risk assets

Fundamentally, weakness in the artificial intelligence sector is reported to be weighing on Bitcoin’s performance. Investors appear to be rotating capital away from risk assets, including cryptocurrencies, as valuations across tech-related equities contract. This sector correlation has amplified Bitcoin’s vulnerability to macro-driven selloffs, given how AI-linked optimism previously contributed to speculative risk appetite earlier in the year.

The daily relative strength index currently sits at 36, which is below neutral yet not oversold, leaving more room for sellers to push further before a potential exhaustion point. If Bitcoin can reclaim momentum and break decisively above the $104,000–$105,000 resistance area, an extension toward $110,000 could materialize. However, continued weakness below that zone increases the probability of a deeper pullback below the $100,000 psychological mark, exposing the lower $90,000 levels as the next downside target.

Overall, the balance between fading buyer interest and consistent sell volume keeps sentiment skewed to the downside. A convincing shift in volume structure and RSI recovery above 50 would be required to confirm a genuine reversal from the current bearish setup.

We discussed Bitcoin sentiment falling to a seven-month low following a heavy liquidation wave. Long-term holders sold $43 billion worth of BTC, deepening fear and weakening conviction.

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