Bitcoin opened November facing renewed challenges as it dipped towards $107,000, raising concerns among traders about potential downward pressure. Many speculate that the recent price movements suggest $125,000 marked the peak of this cycle. However, crypto analyst Mr. Wall Street disagrees, arguing that the current price dynamics indicate that this level is not the true cycle peak.

120 Days of Stability

Mr. Wall Street supports his viewpoint by noting that Bitcoin has been trading sideways for 120 days between the Value Area High of $120,000-$123,000 and the Value Area Low of $107,000-$110,000. He contends that if $125,000 was indeed the top, Bitcoin would not have sustained its position this close to the lowest range without showing any signs of a breakdown.

He further highlights that despite a retail sell-off of about 365,000 BTC—approximately 3,150 BTC daily—the price has remained resilient above $107,000. This behavior, he asserts, signals that institutional investors are acquiring the coins being sold off by smaller traders.

Bearish Perspectives

While some analysts maintain a positive outlook, others, like Analyst Doctor Profit, caution against expecting imminent gains for Bitcoin. He emphasizes that the conclusion of Quantitative Tightening is not yet in effect, projecting that until December 1, 2025, the Federal Reserve will continue withdrawing liquidity, which could negatively impact risk assets such as Bitcoin.

Moreover, he clarifies misconceptions surrounding recent claims of the Fed injecting liquidity, asserting that last week’s actions were simply a temporary repo loan, rather than fresh money supply.

In conclusion, both analysts mark distinct perspectives in the ongoing volatility of Bitcoin, with Mr. Wall Street advocating for an upward trajectory while Doctor Profit expresses skepticism regarding the sustainability of current price levels.