Bitcoin News Update: Bitcoin Drops Under $103K Amid Escalating U.S.-China Crypto Tensions
- Bitcoin fell below $103,000 on Nov. 9, 2025, as U.S. government reopening failed to ease market anxieties amid bearish technical indicators and geopolitical tensions. - A brief price spike to $104,000 followed Trump's $2,000 "dividend" announcement, but broader macro pressures quickly reversed the rally. - China accused the U.S. of orchestrating a $13B Bitcoin theft via a 2020 cyber operation, escalating U.S.-China tensions over digital asset sovereignty. - Bitcoin remains rangebound between $98,898 and
On November 9, 2025, Bitcoin's value dropped beneath $103,000 as the reopening of the U.S. government failed to ease market concerns. Technical signals and ongoing geopolitical strife contributed to a pessimistic forecast for the cryptocurrency. Bitcoin was trading at $102,326, with a 24-hour trading volume of $48.14 billion, while its market cap stayed strong at $2.04 trillion, according to a
Technical reviews pointed to a bleak broader outlook, with Bitcoin's daily chart reflecting a steep fall from $126,000 to $98,898, breaking through major support zones. Although there was a slight rebound for short-term traders, both the 4-hour and 1-hour charts indicated fading
Despite the prevailing negative mood, a brief surge followed U.S. President Donald
At the same time, a new controversy arose when China's cybersecurity authorities accused the U.S. of masterminding a $13 billion Bitcoin heist during a 2020 breach of the LuBian mining pool. The National Computer Virus Emergency Response Center (CVERC) in Beijing claimed the U.S. government seized 127,272 BTC—worth $3.5 billion at the time—through a "state-level cyber operation," later reclassified as a legal asset seizure tied to Cambodia's Prince Group, as reported by a
This dispute has further strained U.S.-China relations over digital asset control, with the contested Bitcoin representing 0.65% of the total supply. At present market rates, the seized coins are valued at $13.3 billion, fueling debate about the influence of governments over decentralized currencies, according to a
Currently, Bitcoin is stuck in a turbulent range, with significant resistance at $104,000–$106,000 and crucial support at $98,898, as outlined in the
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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