Bitcoin trades at around $102,001 after a 7.72% weekly decline, testing the 50-week SMA around $102,980 for the fourth time, even after multiple bullish bitcoin price predictions at the beginning of the week.
Previous tests during 2023-2024 preceded new all-time highs, creating pattern recognition among traders monitoring Sunday’s weekly close requirement above $103,200.
Descending trendline resistance has produced two rejections, with sellers dominating near-term structure.
Treasury companies face pressure as Bitcoin ETF outflows reached $2.3 billion from the peak.
Strategy’s stock declined 53% to lower support bands, while Metaplanet carries $120 million in unrealized losses.
Market Pressure Builds Across Mining and Treasury Sectors
Bitcoin’s hash price plunged to $42 per PH/s, approaching break-even after April’s halving cut block rewards from 6.25 BTC to 3.125 BTC.
The metric declined from $62 in July as network hashrate surged past 1 zetahash per second.
Major firms pivot toward AI infrastructure. Cipher Mining secured $5.5 billion with Amazon Web Services, while IREN signed $9.7 billion with Microsoft for GPU services. Bitdeer also shifted to self-mining as operators delay equipment orders.
Onchain activity reveals mixed signals. James Wynn closed his 40x short with $85,380 profit, while Owen Gunden deposited 600 BTC worth $61.17 million into Kraken.
James Wynn (@JamesWynnReal) has closed his $BTC (40x) short position with a profit of $85,380.
James finally broke the curse of liquidation with this "wynn". Now, he just needs $21.9M to recover to breakeven.https://t.co/PExIWowAvC pic.twitter.com/2KRZkRo72Z— Onchain Lens (@OnchainLens) November 9, 2025
The Winklevoss twins also transferred 250 BTC to Gemini, potentially reaching 9,000 BTC in year-to-date sales totaling $900 million.
All of these transfers point towards further liquidation ahead.
Critical Support Test Determines Bitcoin Price Prediction
Bitcoin tests its 50-week SMA at $102,980 as the weekly close approaches. Three previous successful defenses preceded new all-time highs.
According to analyst AshCrypto, the fourth test requires a close above $103,200 within 48 hours to validate continuation toward $106,000-$110,000.
However, hourly charts reveal descending trendline resistance producing two rejections near current levels. Sellers dominate with consistently lower highs as buying pressure fades.
The path of least resistance remains downward until Bitcoin breaks the trendline with conviction.
Failed to close below $103,200, and a breakdown under $100,000 accelerates the decline toward $98,000-$95,000, potentially extending to the $90,000-$92,000 CME gap zone.
The next 48-72 hours determine resolution as competing factors converge at $100,000.
Layer-2 Innovation Expands Bitcoin Utility
Bitcoin’s critical support test creates uncertainty, but infrastructure improvements advance adoption.
BTC Hyper brings Solana-speed transactions to Bitcoin through a Layer 2 solution, enabling near-instant, low-cost transfers without sacrificing security.
Users bridge BTC to access DeFi protocols, NFT markets, and Web3 gaming.
The presale nears $25 million as the mainnet launch approaches, with liquidity pools and partnerships continuing to expand.
The HYPER token offers a 60% APY staking rate, along with governance access and fee payments.
The platform combines fast transactions with Ethereum-compatible smart contracts, unlocking programmability beyond store of value.
To buy $HYPER, visit the official Bitcoin Hyper website and connect your wallet, like Best Wallet. Swap crypto or use a bank card.
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