Dateline: Wednesday, November 5, 2025 — 20:45 UTC
Bitcoin price today: After an overnight slide below the psychologically key $100,000 level, Bitcoin (BTC) bounced back this afternoon. As of 20:45 UTC, BTC trades near $103,901, with an intraday range of $99,021–$104,495. The recovery follows Tuesday’s flush that briefly sent prices to the $98,951 area, the first sub‑$100K print since June.
Key takeaways (Nov. 5, 2025)
- BTC reclaimed $100K after dipping under the threshold on Tuesday; by late U.S. trade, broader risk assets also stabilized.
- Spot crypto ETFs saw heavy redemptions: U.S. spot Bitcoin ETFs posted ~$577.7M in net outflows Tuesday; combined BTC+ETH outflows neared ~$797–800M.
- Long‑term holders (LTHs) have been distributing: LTH supply fell ~300K BTC since July, and on‑chain analysts flag weakening demand near $100K.
- Macro backdrop mixed: a stronger‑than‑expected U.S. private payrolls print lifted yields and helped equities rebound; Bitcoin turned higher with stocks into the close.
- Street recalibrates: Galaxy Digital cut its year‑end BTC target to $120K (from $185K) after Tuesday’s plunge; analysts still see $100K as pivotal support.
What moved Bitcoin on Nov. 5
ETF flows flipped risk‑off. Fresh data show $577.7M in net outflows from spot Bitcoin ETFs on Nov. 4, alongside $219.4M in outflows from spot Ether ETFs. That’s roughly $797M drawn from the two complexes in one day, the heaviest synchronized red print in weeks, and a key driver of Tuesday’s downdraft.
Long‑term holder distribution intensified. Glassnode’s weekly note highlights sustained LTH selling since midsummer, with ~300K BTC leaving LTH supply (14.7M → 14.4M) as the market faded from October’s record high; spot ETF flows have simultaneously cooled (–$150M/day to –$700M/day), leaving price action fragile near $100K.
Macro tone steadied into the close. U.S. stocks rallied Wednesday after ADP private payrolls beat expectations, while Treasury yields rose. Bitcoin climbed back above $100K alongside the equity bounce, trimming part of Tuesday’s loss.
Whale selling made headlines. Bloomberg reported that long‑time holders have offloaded roughly $45B of BTC in recent weeks—another sign of profit‑taking and rotation.
Technical picture: the lines that mattered today
- $100,000 remains the pivotal round‑number battlefield after Tuesday’s break and quick reclaim.
- BTC’s intraday swing tested cycle‑defining MAs: the 365‑day SMA (~$102,055) and 365‑day EMA (~$99,924) served as today’s reference supports during the sub‑$100K dip.
- A widely watched note pegs $95,000 as “last‑stand” support for bulls—lose it, and the market risks a deeper down‑leg. CoinDesk
- On higher timeframes, Monday’s breakdown put BTC below the 200‑day moving average (~$109,800), making $109K–$112K the first resistance shelf on rebounds (also near Glassnode’s Short‑Term Holder cost basis ~$112.5K).
By the numbers (Nov. 5, 2025, 20:45 UTC)
- Spot price: ~$103,901 (24h +~2.9%)
- Intraday range: $99,021–$104,495
- 24h context: BTC rebounded after Tuesday’s drop below $100K to ~$98,951.
- Distance from ATH: BTC is down ~20% from early‑October highs near $125,800–$126,000.
Positioning & flows
- Derivatives clean‑up: One of the largest deleveraging waves since September swept markets, with ~$1.6B in crypto liquidations around the sell‑off.
- ETF watch: Tuesday’s $577.7M BTC ETF outflow led a five‑day streak nearing ~$1.9B of redemptions; no U.S. BTC spot ETF recorded an inflow that day.
- On‑chain breadth: Glassnode flags 71% of supply still in profit and Relative Unrealized Loss ~3.1%—consistent with a mid‑cycle cooldown rather than deep capitulation, but demand remains subdued.
Context: From October’s record to November’s retest
BTC set a fresh all‑time high above $125,000 on Oct. 5–6, then endured a sharp October drawdown amid global risk jitters, tariff headlines and a broader tech pullback. This week’s retest of $100K keeps Bitcoin roughly >20% below last month’s peak but still well above spring levels.
What to watch next
- Flows, flows, flows: Daily net creations/redemptions across spot BTC ETFs remain the cleanest near‑term driver. Sustained inflows would help restore the bid under price; persistent outflows keep $100K at risk.
- Macro tape: Yields, dollar direction, and any progress on the U.S. government shutdown continue to sway risk appetite—BTC tracked stocks higher today.
- Technical confirmation: Bulls want to hold $100K and reclaim $109K–$112K; bears eye $95K as the next downside test if momentum fades.
Sources you can cite today
- Reuters: Stocks rebound; Bitcoin up after Tuesday’s losses.
- CoinDesk: Sub‑$100K print to $98,951; Galaxy cuts target to $120K; $1.6B liquidations; key MA levels.
- Yahoo Finance / U.Today: ETF outflows (~$578M BTC; ~$797M BTC+ETH).
- Glassnode: LTH supply –300K BTC since July, ETF outflow cadence, and profit/loss gauges.
- Reuters (Oct. 6): ATH ~ $125.8K in early October.
- MarketWatch (Nov. 3): 200‑day MA near $109,800 flagged; next support discussed.
- Bloomberg: $45B in selling by long‑time holders pressures price.
Editorial note: This article is for informational purposes only and does not constitute investment advice. Crypto assets are volatile and high‑risk. Always do your own research.
