A senior strategist at Bloomberg says Bitcoin has entered what he calls a “do-or-die” period.
Bitcoin Although it has made a modest recovery, it still faces significant pressure after weeks of losses. Notably, this downward trend started when crash on October 10th and picked it up again October 27th.
Bitcoin fell nearly 20% from its price of $123,519 on October 6 to a new low of $98,898 on November 4, before rebounding. Even if I climb back up current price $106,200, approximately 14% lower Previously within the month.
McGlone’s graph provides context for this view. Specifically, data I will confirm that bitcoin I started 2023 is a powerful rise that will break the past old resistance zone On October 6th, it reached an all-time high of $126,272.
Bitcoin 1 Million Chart | Bloomberg Intelligence
Since then, the buying momentum has weakened. candlestick on chart The top wick has started to lengthen, this is an early sign of Near the top, sellers are overwhelming buyers. The 12-month simple moving average (SMAVG) was rising steadily, I started flatten, show it The bullish momentum was weakening.
Bitcoin currently trades between $100,000 and $110,000, a narrow range that McGlone calls the “make or break” zone. A return above $110,000 could reignite market confidence and restore the uptrend. less than $100,000 It may lead to bigger losses.
Analysts identify key positions for Bitcoin
Other market analysts have also noted this important position. For example, noted trader and analyst Michael van de Poppe pointed out that Bitcoin is currently facing strong resistance between $108,000 and $110,000.
Significant resistance looms for #Bitcoin.
The government shutdown is almost over, which would be the ideal signal for the market to return to bullish mode.
To be honest, if BTC breaks above $110,000, it will likely rise towards ATH.
I hope #Altcoins will do that… pic.twitter.com/5j0UEAkq3S
— Michael van de Poppe (@CryptoMichNL) November 10, 2025
He said a break out of this range could set the stage for a rally toward record highs, especially as the U.S. government shutdown nears an end. Van de Poppe added that once the rally resumes, altcoins could outperform Bitcoin during that bull phase. This will likely lead to the much-awaited altcoin season.
Another analyst, Ted Pillows, said: identified Same price range. He noted that Bitcoin has regained support around $104,000, which currently serves as a short-term floor.
Bitcoin 1D Chart | Ted Pillows
Pillows said he would like to see Bitcoin return to $108,000 to $109,000. zoneit is possible make It will rise towards the May 2025 high. However, if rejected, he expects the price to return to $104,000, closing the CME gap opened in the previous trade.
Financial institutions, on the other hand, remain confident despite the uncertainty. What is noteworthy is Michael Saylor’s strategy. announced Additional purchase of 487 BTC value Currently worth $49.9 million, total holdings are 641,692 BTC.
