Bitcoin Plunges 3% as Bitcoin ETFs Break 6-Day Outing Streak

Bitcoin price fell 3% in the past 24 hours to trade at $102,964.80, representing a 48% drop in trading volume to $58.86 billion.

This came even as spot BTC ETFs (exchange-traded funds) in the United States ended a six-day outflow streak on Thursday with $239.9 million in net inflows.

Investors had withdrawn more than $2 billion from the funds over the previous seven days, recording the second-worst weekly outflow since the products launched last year.

🚨 OVERVIEW: Bitcoin’s slide toward $100,000 deepened as $2 billion in ETF outflows, weak profits and macroeconomic fears shook investor confidence. pic.twitter.com/dY65IxPaMv

– Cointelegraph (@Cointelegraph) November 6, 2025

On-Chain Bitcoin Signals Show Market Nerves

On-chain data echoes the cautious mood. There has been a notable decline in activity among large Bitcoin wallets, suggesting that whales are not aggressively buying the dip. Instead, the flow of coins from ETFs to exchanges has increased, which is generally a bearish sign as holders look to sell or transfer assets out of passive vehicles.​

Despite the ETF sell-off, not all signals are negative. Some investors are taking advantage of the recession to accumulate, such as as evidenced by the regular influxes to certain countries ETF products and on-chain wallets. However, continued pressure from major sellers and the absence of strong institutional demand mean the recovery remains fragile.​

BTC Price Prediction: Key Levels to Watch

The Bitcoin price outlook for the coming weeks is still murky. After the recent decline, BTC is trading just above $100,500, close to its 50-week simple moving average (SMA) at $102,917which is an essential support for the bulls.

If Bitcoin falls below this level, the $99,000 – $100,000 range becomes the last technical zone before a possible test of $92,000, noted by several analysts as a “CME gap” target in the futures market.​​

Technical indicators are mixed: the RSI is at 43.7, showing weak momentum but not yet in oversold territory. The MACD is negative, indicating that sellers still have the upper hand.

Bitcoin price is just at the lower boundary of a multi-month ascending channel, which could be a turning point for the current trend. If Bitcoin manages to stay above the 50-week SMA and hold the lower trendline, buyers could try to push the price back towards resistance at $106,000 and then $110,000, as several market experts predict.

BTCUSD analysis source: Tradingview

However, if ETF outflows continue and overall market sentiment remains defensive, the risk of further decline remains. In this scenario, the next key support lies at $92,000, below which even greater losses are possible given low liquidity and little conviction from new buyers.​​

Custom price prediction models suggest a wide trading range in November 2025. Most experts expect BTC to bottom out around $103,746, with a possible rebound towards $119,165 if conditions improve. On the other hand, if sellers break through the $99,000 area, expect a quick move towards $92,000 before any major recovery attempts.

Related articles:

Best Wallet – Diversify your crypto portfolio

• Easy-to-use, feature-driven crypto wallet
• Get Early Access to Upcoming Token ICOs
• Multi-chain, multi-wallet, non-custodial
• Now on App Store, Google Play
• Stake to win a $BEST native token
• More than 250,000 active users per month