At this crucial juncture in early November 2025, Bitcoin's price is facing a significant technical test. Currently, the price is seeking support around $106,800, and the market is closely watching whether bulls can launch a counterattack in this key area. Technically, a break above $107,500 is needed to confirm buying interest, while the $108,000 level overlaps with the hourly chart's downtrend line, forming resistance. More importantly, the 50% Fibonacci retracement level at $108,650 and the $109,000 level are key indicators determining the continuation of any rebound. Meanwhile, significant political news has emerged: Eric Trump, son of former US President Donald Trump, publicly called for the overhaul of the traditional banking system at the Bitcoin 2025 conference, his radical remarks drawing widespread market attention. Influenced by both technical and fundamental factors, Bitcoin is at a critical turning point that will determine its future direction. Investors need to closely monitor the price's performance in key support areas and the emergence of breakout signals.
Bitcoin price hits support zone – will bulls enter the market?
Bitcoin's price action has turned bearish, breaking below the $108,500 support level and testing the $106,800 area. Cryptocurrencies are now facing a critical juncture, with market participants closely watching for signs of bullish momentum.
A rise above $107,500 would suggest initial buying interest, but resistance exists around $108,000 – this coincides with the bearish trendline on the hourly chart. The 50% Fibonacci retracement level at $108,650 forms the next hurdle; a close above $109,000 is needed to confirm a resumption of the uptrend.
Technical indicators are divergent: while the price remains below the psychological level of $108,000 and the 100-hour moving average, the higher lows may suggest that accumulation is underway at the current price level. Market sentiment is cautious, with traders awaiting a breakout signal or further downside confirmation.
Trump's son advocates for disrupting the traditional banking system at the Bitcoin 2025 conference.
Eric Trump, the second son of former US President Donald Trump and a public supporter of cryptocurrency , caused a stir at the Bitcoin 2025 conference in Las Vegas with his sharp criticism of traditional financial institutions. During a panel discussion with his brother, Donald Trump Jr., he declared, "I would love to see some big banks go bankrupt; frankly, they deserve it."
This gathering of top figures in the crypto industry came as Bitcoin prices approached their all-time high of $110,000. Vice President JD Vance's attendance further highlighted the Trump family's growing influence in the crypto space, praising the industry's "truly top-down innovation" and encouraging continued political engagement until 2026.
This marks the second consecutive year that the Trump family has been deeply involved in the conference, continuing the trend that Donald Trump's pro-crypto speech in 2024 sparked a wave of political donations from industry executives. The current administration's crypto-friendly policies appear to be making progress, with Vance telling the cheering crowd that their initiative is beginning to bear fruit.
Macroeconomic Dependence on the Crypto Market: From Utopian Ideals to the Reality of Closely Monitoring the Federal Reserve
Bitcoin's early days were filled with revolutionary fervor, with proponents envisioning a decentralized future free from the traditional financial system. Today, the crypto community is obsessed with Federal Reserve interest rate decisions and CPI data—a stark contrast to its ideological roots.
Markets have become highly sensitive to macroeconomic changes. Bitcoin's price movements, once driven by technology adoption, now mirror those of traditional risk assets. Federal Reserve policy adjustments immediately ripple through cryptocurrency valuations, and traders meticulously analyze every word Powell utters.
The anticipated interest rate cut cycle in 2023-2024 has become a focal point for crypto investors. Continued volatility is attributed to delays in Federal Reserve action due to political and economic management. The Biden administration's unconventional intervention in the labor market further complicates the macroeconomic landscape on which cryptocurrencies now rely.
Bitcoin diamond hands absorb selling pressure, and long-term holders continue to accumulate.
Bitcoin prices have remained stable between $106,229 and $111,807 over the past five days, demonstrating market resilience despite miner sell-offs. On-chain data shows that long-term holders are actively accumulating, with their supply increasing by 300,000 BTC in 20 days, a stark contrast to the consumption trend seen in 2024.
The binary index of long-term holder spending has fallen to its lowest point since September 2024, a historically significant indicator that often foreshadows bullish momentum. Diamond Hands currently controls 74% of the circulating supply, which analysts describe as creating "prepared" conditions for Bitcoin's next surge.
Cryptocurrency investor arrested in New York in connection with Bitcoin-related kidnapping case
American cryptocurrency investor John Woeltz has been arrested in New York on charges of kidnapping, assault, and unlawful imprisonment. The suspect, along with an accomplice, allegedly kidnapped a 28-year-old Italian man and held him captive in a luxury Manhattan apartment for nearly three weeks. The victim was reportedly beaten, tased, and threatened at gunpoint to hand over his Bitcoin wallet password.
This case highlights the dark side of cryptocurrency-related crimes. Waltz, who had previously spoken at cryptocurrency seminars, rented the apartment for $30,000 to $40,000 per month and turned it into a prison for his victims. The torture began shortly after the victims arrived in New York from Italy in early May.
Authorities revealed that the victim eventually escaped barefoot and reported the incident to the police. She is currently receiving medical treatment. Prosecutors are investigating the relationship between the victim and her kidnappers, as many questions remain unanswered.
This incident highlights the risks associated with digital assets, where the anonymity and irreversibility of transactions can attract criminals. While Bitcoin itself is not the root of such crimes, its high value and pseudo-anonymity make it a target for illicit activities.
James Wynn increases Bitcoin long positions to $760 million, demonstrating institutional confidence amid market volatility.
James Wynn recently increased his long positions in Bitcoin, injecting an additional 2.78 million USDC into Hyperliquid as margin. This move follows his withdrawal from Binance and expands his existing 40x leveraged long position to $760 million. His current holdings are 7,029.04 BTC, with an average entry price of $108,334.7. As Bitcoin tests support levels, he is currently experiencing a paper loss of $220,000.
This aggressive positioning strategy highlights institutional investors' unwavering belief in ignoring short-term price fluctuations. Market participants noted that the liquidation price is dangerously low at $107,040, potentially exacerbating market volatility. Such highly leveraged bets often become important indicators of market sentiment during price exploration periods.
