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Bitcoin Updates Today: Bearish Pressure Mounts, Yet Optimistic Bulls Anticipate Future Expansion

Bitcoin Updates Today: Bearish Pressure Mounts, Yet Optimistic Bulls Anticipate Future Expansion

Bitget-RWA2025/11/24 13:46
By:Bitget-RWA

- Bitcoin's bearish technical indicators reinforce downward pressure despite short-term recovery attempts. - Ethereum and altcoins mirror Bitcoin's weakness, with $2B in crypto liquidations intensifying selling pressure. - Long-term fundamentals project $17.14B crypto market growth by 2033 driven by institutional adoption and regulatory clarity. - Thailand's Bitkub plans $200M Hong Kong IPO amid local market struggles, highlighting regional listing strategy shifts. - Persistent bearish momentum remains, wi

Bitcoin Price Update:

Hints at Breakout as Bears Hold Firm

Bitcoin continues to be locked in a bearish pattern, with major technical signals indicating ongoing downward momentum, even as brief recovery attempts occur. The 50-, 100-, and 200-day exponential moving averages (EMAs) are all trending downward on the daily chart, and

at $104,191, $107,700, and $106,570, respectively. The Moving Average Convergence Divergence (MACD) indicator is positioned under the signal line and well below zero, with the negative histogram expanding, pointing to growing bearish strength. At the same time, —deep in oversold territory— highlights pronounced weakness and limits the chance for a short-term rebound. Analysts note that a drop below the ascending trend line from $74,561 would further confirm the bearish outlook.

The wider crypto market is reflecting Bitcoin’s challenges.

(ETH) is trading at $2,679, which is significantly under its 50-, 100-, and 200-day EMAs of $3,610, $3,729, and $3,546, . also remains beneath its declining EMAs, with both MACD and RSI indicating ongoing selling activity . Other altcoins are facing similar pressures as , with sellers maintaining strong control across the market.

Bitcoin Updates Today: Bearish Pressure Mounts, Yet Optimistic Bulls Anticipate Future Expansion image 0

Nonetheless, the long-term outlook for the market remains optimistic. Projections show the global cryptocurrency sector expanding from $5.82 billion in 2024 to $17.14 billion by 2033,

, clearer regulations, and advances in blockchain technology. the digital asset space, with products like crypto ETFs—now authorized for Bitcoin spot trading in the U.S.—making it easier for mainstream investors to participate. This capital inflow is anticipated to enhance liquidity and gradually reduce volatility, though short-term risks remain due to inconsistent regulations and security issues .

BitMine Immersion (BMNR) is a prime example of this institutional trend, as its

and its total crypto and cash assets are now valued at $11.2 billion. The CEO describes the current environment as an "Ethereum supercycle," highlighting a favorable risk/reward ratio with downside risk limited to 5-7%. Meanwhile, for Q3 2025, attributed to the expansion of Bitcoin ATM networks and monetization of intellectual property. The company expects continued growth into 2026 as regulatory clarity improves and retail participation rises .

On the international stage,

a $200 million IPO in Hong Kong, citing weak performance in domestic markets. in 2025 amid political instability and capital outflows, prompting Bitkub to seek a new listing venue. Hong Kong’s efforts to attract crypto businesses, along with a thriving IPO market, make it an appealing destination for digital asset listings.

Despite these positive shifts, bearish sentiment continues to dominate in the short term.

and an RSI rebound above 30 could indicate stabilization, but there is still a lack of sustained buying interest. For now, traders should keep an eye on major support levels, with acting as a key psychological threshold.

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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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