Key points:
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Bitcoin faces an important weekly close with several key price levels on the line.
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The future of the bull market is still on the line, a trader says, amid ongoing whale selling.
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Risk assets should benefit from a cut in US trade tariffs or an end to the government shutdown.
Bitcoin (BTC) squeezed into a tight range ahead of a key weekly close with $100,000 support at stake.
The price of BTC is counting down to the main weekly close
Data from Cointelegraph Markets Pro and TradingView it showed the BTC price inertia that characterizes weekend trading.
There was no volatility, but market participants wanted to see how the weekly candle would close.
“Key level of the week: $103.5k,” wrote trader Titan of Crypto at post on X.
Titan of Crypto bases the significance of that price point on Fibonacci retracement levels, with a potential bull market role.
“A weekly close below is not dramatic, but a confirmed decline next week would signal that the bull market is probably over. It’s not yet,” he added.
Others looked to the close of the 50-week exponential moving average (EMA), currently at $100,940, as a sign of strength.
“At no cost do we want a weekly close below this,” trader Max Crypto warned.
The “death cross” risk involving simple moving averages (SMAs) on the daily chart, meanwhile, was of interest to trader SuperBro.
Such a scenario occurs when the 50-period SMA crosses below the 200-period equivalent.
“The 4th ‘death cross’ of the bull cycle is approaching. Each time we have seen a reversion to the mean and a sustainable bottom,” he said told X followers per day.
“But for now, a tepid reaction to the 365 SMA. Let’s see if the bulls can rally and retake the 3Q low for the weekly close.”
Bitcoin analyst sees “expansion” if US government shuts down
Apart from the signals from the charts, the crypto markets were hoping for positive news about the US government shutdown.
Related: Bitcoin ‘accelerates’ to 56 thousand dollars? Ripple Sheds IPO Plans: Hodler’s Digest, November 2-8
Expectations that lawmakers would take steps to end the shutdown grew as its effects grew more problematic for the U.S. economy.
In addition, the US Supreme Court was expected to cut international trade tariffs – a decision expected soon – giving stocks an immediate boost.
“If the US government shutdown ends, we could soon see an expansion,” Cas Abbe, associate at onchain analytics platform CryptoQuant, summarize.
Abbe uploaded a chart on X, which suggested that the end of the shutdown could also mark the end of the “manipulation” phase for BTC’s price action.
Crypto investor and entrepreneur Ted Pillows was cautious, predicting that the price of BTC could suffer if market expectations are not met soon enough.
“BTC is still consolidating around the $102,000 level. Markets were expecting an end to the government shutdown this weekend, but that didn’t happen,” he said stated.
“I still think Bitcoin could go a little lower, given that institutional demand is gone and OG whales are selling off.”
Bitcoin whales, Cointelegraph reported, produced sustained selling pressure throughout 2025.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making a decision.
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