Date: Tue, Nov 04, 2025 | 06:20 PM GMT
The cryptocurrency market continues to swing wildly, erasing nearly 5% from the total market capitalization today. Both Bitcoin (BTC) and Ethereum (ETH) have suffered sharp declines, contributing to more than $1.18 billion in total liquidations — with an overwhelming $1.0 billion coming from long positions.
BTC alone has dropped around 6% in the past 24 hours, but beneath this wave of bearish momentum, the chart is flashing something potentially more optimistic — a key moving average (MA) support that could once again play a decisive role in shaping Bitcoin’s next big move.
Testing Crucial 365-Day MA Support
On the daily timeframe, BTC has once again dropped to test its crucial 365-day MA — a level that has acted as a springboard for previous major rallies.
Back in August 2024 and April 2025, Bitcoin experienced sharp corrections that dragged its price to the same 365-day MA region, both times resulting in strong rebound rallies that carried BTC to new local highs.
Now, history seems to be rhyming. The latest correction has pushed BTC down to the $100,000 zone, where it is currently trading just below the 365-day MA ($101,958). The price also aligns with the lower boundary of a symmetrical broadening wedge, adding further technical confluence to this critical support area.
What’s Next for Bitcoin?
If the 365-day MA fractal support holds once again, BTC could be poised for a sharp recovery bounce from the $98K–$100K range. A rebound from this area could mark the end of the current deep correction phase and potentially set the stage for a move toward new all-time highs in the coming months.
However, the bullish fractal is not guaranteed. A decisive breakdown below $98,000 and failure to reclaim the 365-day MA could trigger another wave of selling, possibly extending the correction before any meaningful reversal occurs.
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