[LIVE] Bitcoin Price Tracker: BTC Crashes Below Key Supports as Global M2 Hits Record Highs — What Happens Next?

Bitcoin’s price motion has entered a essential part this week, breaking under $100,000 for the primary time in months regardless of a document surge in world liquidity.

As of November 5, BTC trades close to $104,000, even as the U.S. M2 cash provide climbed to $22.21 trillion and world M2 reached $95.8 trillion, a divergence from their beforehand tight correlation.

Analysts cite U.S. Treasury conduct, long-term holder distribution, and Bitcoin’s rising 85% correlation with the NASDAQ as key drivers, together with miners more and more shifting sources from Bitcoin hashing to AI compute.

CryptoQuant data paints a extra regarding image. Bitcoin has now fallen under its 365-day shifting common (~$102K) — a degree that acted as the “final line of protection” earlier than the 2022 bear market absolutely unfolded.

The agency’s Bull Score Index has hit zero for the primary time since June 2022, indicating extraordinarily weak fundamentals.

If BTC fails to reclaim the $100K band shortly, the Traders’ Realized Price mannequin suggests a possible slide towards $72K inside 1–2 months.

Under a network-valuation lens primarily based on Metcalfe’s Law, the following main help sits round $91K, a degree Bitcoin hovered close to from late 2024 to mid-2025.

On-chain knowledge reveals mounting psychological stress. Nearly one-third of all Bitcoin in circulation is now held at a loss, indicating that stress is shifting from new entrants to broader segments of the market.

Historically, these ranges usually coincide with exhaustion factors, moments the place promoting dries up and sturdy bottoms type.

But if worry continues rising and long-term holders start derisking, any short-term rebound may flip into an exit rally fairly than the beginning of a brand new uptrend, regularly eroding demand and conviction.

The market now sits at a fragile equilibrium between worry, liquidity, and endurance. If promoting stress continues whereas BTC stays underneath key technical ranges, the construction of this bull cycle could also be examined extra severely.

If, nonetheless, capitulation peaks and liquidity returns, doubtlessly aided by ongoing Fed charge cuts, this area may turn into the following main accumulation zone.

Bitcoin Rebounds above $100K: What’s the Next Price Action?

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