On November 13, 2025, Bitcoin confirmed a sharp pullback, retreating from session highs near $105,300 to consolidate around the $102,000 level. This wasn’t an ordinary dip; the breakdown was validated by a massive surge in selling volume, which spiked 138% above the 24-hour average. This kind of volume indicates genuine selling pressure and points to a fragile short-term risk appetite among traders.
A Glimmer of Institutional Confidence
Despite the technical weakness, a contrasting narrative is unfolding with institutional demand. On the same day as the sell-off, spot Bitcoin ETFs recorded a significant $524 million in net inflows. BlackRock’s iShares Bitcoin Trust alone captured $224.2 million, while Fidelity’s FBTC attracted $165.8 million. This substantial inflow, the largest daily total since October 7, suggests that established financial institutions see the current price levels as a potential accumulation zone, even as short-term traders take profits.
This divergence is further highlighted by on-chain data, which shows approximately 7,500 BTC moving to exchanges daily—the highest rate since March—typically a sign of distribution.
Navigating a Market in “Extreme Fear”
The market’s mood is undeniably pessimistic. The Crypto Fear & Greed Index has plunged into “Extreme Fear” territory, with readings as low as 15. This level of risk aversion often leads to reduced leverage and can widen spreads in perpetual markets, increasing liquidity risk. For treasury managers and risk managers, this environment underscores the need to review stop-loss and margin levels to protect against further volatility.
Key Levels to Watch for Bitcoin’s Next Move
For traders and institutional players, specific price levels are now critical for determining Bitcoin’s next directional move.
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🛡️ Critical Support: The $100,000 – $102,000 zone is the essential psychological and technical support to hold. A decisive break below this level could trigger a deeper correction toward the $98,000–$97,000 area, or even $88,000.
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🚀 Key Resistance: On the upside, the price faces a significant barrier near $105,050 to $105,500. Sustained daily closes above this resistance zone are needed to invalidate the bearish structure and signal a potential recovery, which could then open a path toward $107,400.
The immediate future of Bitcoin hinges on the battle between these technical levels. A hold above $100,000, combined with persistent institutional inflows, could lay the groundwork for a rebound. However, a break lower would likely intensify selling pressure and confirm a deeper corrective phase.
