SAEDNEWS: Glassnode warns: Breaking the $109K support could trigger a deep correction. But November looks historically bullish. Is this the end of the downtrend or the start of a major crash? Real-time analysis and data ahead.
According to the cryptocurrency news service of SaedNews, citing CoinDesk, in an unexpected turn, Bitcoin (BTC) closed October 2025 down 1.6%, marking its first negative monthly performance in this traditionally bullish month since 2018. The current price of Bitcoin is around $111,000, down more than 2.3% in the past 24 hours.
Analysts at Glassnode have warned that a breach of the key $109,000 support level could trigger a deeper correction and push the market into a short-term bearish phase. This level represents the last technical line of defense before entering the $100,000–$105,000 range, where heavy selling pressure has been observed.
However, historical data suggests November is one of Bitcoin’s strongest months. Over the past decade, Bitcoin has posted positive returns in 8 out of 10 Novembers, with an average gain of more than 35%, keeping hopes for a bullish rebound alive.
Technical Snapshot:
RSI (14-day): 42 – near oversold territory
Immediate Support: $109,000
Nearby Resistance: $115,000 (50-day moving average)
24-Hour Trading Volume: $42 billion (down 18% from last week)
Bitcoin ETF Net Flows: $596 million outflow last week
Fundamental Insights:
Despite institutional selling pressure and reduced correlation with equities, corporate adoption continues. Visa expanded stablecoin support across four blockchains, and Ripple released 1 billion XRP, which may temporarily add downward pressure. U.S. Treasury Secretary Janet Yellen’s comments on Bitcoin becoming “more resilient” provided a positive governmental signal.
Analytical Conclusion:
October’s dip was largely driven by profit-taking after the $120,000 rally and ETF outflows. Yet, with upcoming macroeconomic events, including the Federal Reserve decision on November 7, and November’s historical strength, a bullish rebound is likely—unless the $109,000 support level is breached.
Probable Forecast:
Bitcoin may consolidate between $109,000 and $113,000 until mid-November, before potentially moving toward $125,000 if support holds.
This report is based on data from Glassnode, CoinDesk, X (popular posts), and real-time analysis. Cryptocurrency investments carry high risk.
