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Bitcoin price<\/a> reached $103,500 today after a week of tumultuous trading. Bitcoin started the day down close to $100,000 but rebounded throughout market trading to highs of $103,859 today.\u00a0<\/p>\n Earlier this week, Bitcoin plunged below $100,000 for the first time since June on November 4.\u00a0<\/p>\n The slump came amid macro pressures<\/a>, political headlines, and fading risk appetite, pushing bitcoin down to $99,070 and more than 20% off its October high of $126,000, technically entering a bear phase.\u00a0<\/p>\n The sell-off follows October\u2019s massive liquidation events<\/a>, a series of hacks, and trade tensions with China.\u00a0<\/p>\n The Federal Reserve\u2019s hawkish tone<\/a>, including a modest rate cut and signals that further cuts may not come, weighed on sentiment.\u00a0<\/p>\n During the Fed\u2019s most recent press conference, Jerome Powell said that December\u2019s rate cuts aren\u2019t guaranteed, Bitcoin\u2019s price immediately reacted \u2014 plunging to $109,000 on the day. Since then, the price continued bleeding into this week. The broader crypto market reacted similarly.\u00a0<\/p>\n Powell said<\/a> that inflation excluding the impact of tariffs is \u201cnot so far\u201d from the central bank\u2019s 2% target, but emphasized that policymakers have \u201cnot made a decision about December.\u201d Powell noted that officials held \u201cstrongly differing views\u201d during today\u2019s meeting.<\/p>\n A stronger U.S. dollar added pressure. Technical charts show Bitcoin struggling around its 200-day moving average, with support near $96,000, according to Bitcoin Magazine Pro data.\u00a0\u00a0<\/p>\n Despite this, some bulls, including Michael Saylor\u2019s firm, continue buying the dip, signaling cautious confidence.<\/p>\n Despite the volatility, major institutions like JPMorgan remain bullish,<\/a> forecasting a potential rise to $170,000 within 6\u201312 months, citing undervaluation relative to gold and the conclusion of heavy deleveraging.<\/p>\n Technical indicators offer mixed signals. Up to today, Bitcoin has been trading in a tight $100,000 \u2013$102,000 support corridor, facing resistance at $106K\u2013$114K.\u00a0<\/p>\n Short-term buyers have exhausted momentum, while on-chain data highlights friction between capitulating short-term holders at $107K\u2013$110K and long-term holders defending $95K\u2013$96K.\u00a0<\/p>\n Institutional flows show tentative accumulation: after six days of withdrawals totaling $2.05 billion, U.S. spot Bitcoin ETFs recorded<\/a> $240 million in inflows, led by BlackRock and Fidelity.\u00a0<\/p>\n Whale activity indicates profit-taking rather than panic, with over<\/a> 319,000 BTC reactivated in the past month, mostly held six to twelve months.<\/p>\nBitcoin price technical analysis<\/h2>\n