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Bitcoin Price Forecast: $100,000 Approaches BTC – Insights from Onchain Data Regarding the Upcoming 48 Hours
Bitcoin is currently trading at approximately $102,001 following a 7.72% decline over the past week, testing the 50-week SMA around $102,980 for the fourth time, despite several optimistic bitcoin price forecasts made earlier in the week.
Previous tests throughout 2023-2024 have led to new all-time highs, establishing a pattern that traders are observing as they monitor the requirement for Sunday’s weekly close to remain above $103,200.
Resistance from the descending trendline has resulted in two rejections, with sellers prevailing in the near-term market structure.
Treasury firms are under pressure as Bitcoin ETF outflows have reached $2.3 billion from their peak.
Source: CryptoQuant
Strategy’s stock fell by 53% to lower support levels, while Metaplanet is facing $120 million in unrealized losses.
Market Pressure Intensifies in Mining and Treasury Sectors
Bitcoin’s hash price has dropped to $42 per PH/s, nearing break-even after the halving in April reduced block rewards from 6.25 BTC to 3.125 BTC.
This metric has decreased from $62 in July as the network hashrate exceeded 1 zetahash per second.
Major companies are shifting towards AI infrastructure. Cipher Mining has secured $5.5 billion with Amazon Web Services, while IREN has signed a $9.7 billion agreement with Microsoft for GPU services. Bitdeer has also transitioned to self-mining as operators postpone equipment orders.
Onchain activity is showing mixed signals. James Wynn closed his 40x short position with a profit of $85,380, while Owen Gunden deposited 600 BTC valued at $61.17 million into Kraken.
James Wynn (@JamesWynnReal) has closed his $BTC (40x) short position with a profit of $85,380.
James finally broke the curse of liquidation with this “wynn”. Now, he just needs $21.9M to recover to breakeven.https://t.co/PExIWowAvC pic.twitter.com/2KRZkRo72Z— Onchain Lens (@OnchainLens) November 9, 2025
The Winklevoss twins also moved 250 BTC to Gemini, potentially bringing their year-to-date sales to 9,000 BTC, totaling $900 million.
All these transactions indicate the possibility of further liquidation in the market.
Key Support Test Influences Bitcoin Price Prediction
Bitcoin is testing its 50-week SMA at $102,980 as the weekly close approaches. Three prior successful defenses have preceded new all-time highs.
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Analyst AshCrypto notes that the fourth test necessitates a close above $103,200 within 48 hours to confirm a continuation toward the $106,000-$110,000 range.
Source: X/@AshCrypto
However, hourly charts indicate that descending trendline resistance has caused two rejections at current levels. Sellers are in control with consistently lower highs as buying pressure diminishes.
The path of least resistance remains downward until Bitcoin convincingly breaks the trendline.
If it fails to close above $103,200, a breakdown below $100,000 could accelerate the decline toward the $98,000-$95,000 range, potentially extending to the $90,000-$92,000 CME gap zone.
The next 48-72 hours will be crucial in determining the outcome as competing factors converge at $100,000.
Layer-2 Innovation Enhances Bitcoin Utility
Bitcoin’s critical support test introduces uncertainty, yet infrastructure advancements are promoting adoption.
BTC Hyper introduces Solana-speed transactions to Bitcoin via a Layer 2 solution, facilitating near-instant, low-cost transfers without compromising security.
Users can bridge BTC to engage with DeFi protocols, NFT markets, and Web3 gaming.
The presale is approaching $25 million as the mainnet launch nears, with liquidity pools and partnerships continuing to grow.
The HYPER token offers a 60% APY staking rate, along with governance access and fee payments.
The platform merges rapid transactions with Ethereum-compatible smart contracts, enabling programmability beyond mere store of value.
To acquire $HYPER, visit the official Bitcoin Hyper website and connect your wallet, such as Best Wallet. You can swap crypto or utilize a bank card.
Buy $HYPER Here
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