Technical analysis by ElaraQuinn about Symbol BTC on 11/8/2025

After a strong rally in October, Bitcoin is under corrective pressure as the US dollar recovers. The DXY index stabilizes around 100.5, and the 10-year US bond yield is at 4.2%, prompting investors to prefer safe-haven assets at the expense of cryptocurrencies. The decline in US stock indices such as the Dow Jones and S&P 500 reflects the general caution, especially with expectations that the Federal Reserve will not cut interest rates soon. As for the digital currency market, risk appetite is still weak, as large investors are staying away from the market, and ETF flows are still limited. Geopolitical tensions and the decline of gold have also reduced Bitcoin's role as a safe haven. On the 4-hour chart, the price is floating around $102,900 in a short-term bearish range since the $112,000 level. The most important support range between $101,500 and $102,200 represents a potential area for buyers to return, while resistance at $103,800 - $104,500 remains a major barrier. Bitcoin will likely continue to trade sideways between $101,500 and $104,000 until there is a new signal from the Fed or a significant increase in ETF inflows.