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Selling pressure builds as the price approaches the 93,600 support band with rising volume.

A deeper move toward the 85,000 to 86,000 region gains traction unless major levels reclaim.

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Bitcoin has slipped below the key level of 100,000 as selling pressure has increased over the past few days. It has also broken below the 0.50 Fibonacci correction level at 99,600, which traders have watched for months. This zone acted as an important balance area and a decision point for the uptrend that ran from April to October.

The drop toward 97,500 after the break shows that sellers still guide the market. Rising volume on the daily chart supports this view and signals that the move has a more institutional character rather than random selling.

Short-term moving averages show a clear downward setup. The 8-day EMA stays below the 21-day EMA, and both averages slope lower. BTC trades welltwo short-term averages and also under the 3-month EMA near the 110k area. This confirms a firm downward trend on the daily chart, and any bounce from here remains an intermediate move inside this broader decline.

For now, the first resistance in any rebound sits in the 99,500 to 100,000 band. Above that, the 105,000 to 106,000 band acts as the key threshold that aligns with the neckline. Until the price climbs back above both these zones, upward moves will mainly serve as selling opportunities from a technical perspective.

Market Structure Shows Where The Declines May Slow
The Shoulder Over Shoulder pattern on the daily chart now looks complete. The head of the pattern sits near the peak around 124,000, and the left and right shoulders formed in the 112,000 to 114,000 area. After the price moved below the 105,500 to 106,500 range, which acts as the neckline, BTC made several attempts to climb back into this zone. Each attempt met with fresh selling pressure and the price moved lower again.

This behaviour shows that the retest phase after the breakout has already played out and the downside risks remain in place from a technical point of view under these

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Bitcoin tumbled below the coveted $100,000 level on Friday, tracking a broader decline in risk- driven markets as sentiment was battered by growing bets that the Federal Reserve will not cut interest rates in December.

The world's largest cryptocurrency was also headed for a third consecutive week in red, seeing little relief as institutional flows in crypto also dried up.

Bitcoin slid 4.2% to $97,795.5 by 00:00 ET (05:00 GMT), its weakest level since May. The crypto hit an intraday low of $96,866.1.

Dec rate cut bets wane as US economic uncertainty grows

Markets rapidly priced out bets on a December rate cut this week, amid growing uncertainty over the world's largest economy.

Core to this was a nearly 43-day U.S. government shutdown, which ended on Wednesday. Government officials signaled that they may never release employment and inflation readings for October due to the shutdown.

This in turn leaves the Fed flying blind going into its December meeting, making it likely that the central bank will keep rates steady on caution over the economy.

Markets are pricing in a 45.4% chance for a 25 basis point rate cut during the Fed's December 10-11 meeting, down sharply from a 63.8% chance last week, CME Fedwatch showed.

A lack of official inflation and employment readings also spurred increased uncertainty over the U.S. economy, hurting risk appetite and keepina traders largely averse towards speculative assets such as crypto.
Bitcoin headed for third straight week in red as institutional demand cools
Bitcoin was trading down more than 4% this week, and was also headed for a third consecutive in red.
Losses in the world's largest crypto were driven largely by slowing institutional buying- among corporate treasuries and spot exchange-traded funds.
Data from aggregator SoSoValue showed U.S.-listed spot Bitcoin ETFs saw nearly $897 million of outflows on Thursday, and were also headed for a third straight week of outflows.
Institutional demand for Bitcoin was seen cooling as the crypto slid into a tight trading range through most of October and early-November.
Crypto price today: altcoins sink, head for weekly losses
Broader crypto prices sank tracking Bitcoin, as markets saw little relief from extended weakness through October and early-November. Most altcoins were also headed for weekly declines.
World no.2 crypto Ether slumped 9.3% to $3,161.68 and was down more than 7% this week. BNB fell 5.4% and was also down about 7% this l hile XRP slid 8%.
Solana and Cardano lost between 8.5% and 9%, while among memetokens, Dogecoin and STRUMP slumped over 7% apiece