BTC (Bitcoin) decreased by 2.68% in the past 24 hours.

Gate News Bot Message, November 12th, according to CoinMarketCap data, as of press time, BTC (Bitcoin) is trading at $102,900, down 2.68% in the past 24 hours. The highest price reached $106,600, and the lowest dropped to $99,000. The 24-hour trading volume is $70.072 billion. The current market capitalization is approximately $2.05 trillion, a decrease of about $56.503 billion from yesterday.

Recent important news about Bitcoin:

1️⃣ TD Cowen Maintains Bitcoin Year-End Price Forecast TD Cowen reaffirmed its overall outlook for Bitcoin by maintaining a year-end price target of $141,277. They also proposed more extreme scenarios, with an upside of $160,000 and a downside of $60,000. This forecast reflects institutional confidence that Bitcoin still has significant upside potential in the short term.

2️⃣ Decline in Bitcoin Futures Market Activity After the deleveraging wave in October, Bitcoin futures open interest (unsettled contracts) has remained subdued, with little sign of new speculative positions accumulating. The derivatives market activity has significantly decreased, indicating a generally bearish market sentiment. This could lead to reduced short-term Bitcoin price volatility.

3️⃣ Long-Term Holders Continue Selling Since July, long-term Bitcoin holders have sold 371,584 BTC. This ongoing selling pressure may be one of the main reasons for recent Bitcoin price declines and could influence short-term price movements.

From a technical perspective, Bitcoin’s price is currently below the 200-day moving average, around $110,000. Breaking through this key resistance level could signal an important next step for an upward move. Meanwhile, investor confidence indices have entered a “red signal” indicating low sentiment, suggesting market emotions have dipped to a new low, which may present opportunities for contrarian investors.

This message is not investment advice. Please be aware of market volatility risks.