On-chain data indicates Bitcoin may be forming a price bottom after sustained selling pressure since mid-October. Four key metrics reveal weakening speculative short positions and increasing buying power, according to analysis by Sunny Mom on CryptoQuant. BTC currently trades around $102,510.

Bitcoin is trading at $102,289, consolidating within a three-day range between $101,000 and $103,000. The Bid-to-Ask Ratio has turned positive at 0.2 for the first time in months, while the Bitcoin Bubble Index stands at 13.46, well below the typical market top reading of 139. Data show long-term holders have increased selling activity over the past thirty days, though multiple on-chain metrics point toward building accumulation that could support upward momentum.

Long-inactive Bitcoin wallets have resumed activity in 2025, moving more than 1,000 BTC per hour, according to on-chain data. A notable transaction involved 3,600 BTC valued at approximately $372 million, with 500 BTC transferred to Kraken. Bitcoin currently trades around 19% below its October high of $126,000.

Bitcoin dropped below $100,000 multiple times in the past week, marking its first sub-six-figure trading since June. Analyst Ali Martinez identified three critical support levels at $98,340, $75,475, and $55,980 using pricing band analysis. Demand indicators have returned to positive territory after weeks of negative readings, according to analyst CW.

Bitcoin retested the $100,000 level during its recent correction, triggering significant liquidations. Analyst PlanD identifies the 50-week exponential moving average at $100,700 as critical support. A sustained weekly close above this threshold could enable a rebound toward $116,000–$120,000 in the short term.

Bitcoin has declined below $102,000, breaking its 365-day moving average for the first time in over three years. CryptoQuant's Bull Score Index fell to zero, a level last recorded before the 2022 bear market. The cryptocurrency trades at $102,298, down nearly 7% for the week and more than 16% for the month.

ARK Invest CEO Cathie Wood reaffirmed her long-term Bitcoin price projection of $1 million during November's In the Know podcast. She cited the stablecoin market's expansion past $300 billion as evidence of digital asset sector maturation. Wood anticipates improved liquidity conditions around mid-December following Federal Reserve announcements and employment data releases.

Bitcoin is trading around $102,405 while struggling to hold above $100,000, with total cryptocurrency market capitalization falling to approximately $3.34 trillion. Bloomberg senior macro strategist Mike McGlone warns the current price level represents a critical juncture, noting that unusually low volatility may indicate underlying stress rather than stability. The correlation between Bitcoin and the S&P 500 remains above 0.53, reflecting continued alignment with traditional equity markets.