Bitcoin Holds Firm Above $103,000: Analyzing Internal Signals and Key Support Levels

The leading cryptocurrency, Bitcoin (BTC), demonstrated notable resilience on November 9, 2025, successfully maintaining its position above the psychologically significant $100,000 threshold. Over the preceding 24 hours, the asset recorded a gain of 1.7%, with its intraday trading range fluctuating between $101,494 and $103,943. This performance stands in contrast to the minimal movement observed in traditional financial markets, where the benchmark index only managed a modest increase of 0.02%, reaching $1,729.00. Market participants are closely monitoring both fundamental network metrics and broader macroeconomic policy decisions to accurately gauge the asset's future trajectory.

Crypto analyst Burak Kesmeji recently highlighted several internal metrics that suggest underlying strength within the asset. Specifically, Kesmeji identified a crucial support level at $105,799. This level is correlated with the activity of UTXOs (Unspent Transaction Outputs) aged between one week and one month, suggesting that short-term holders are actively defending this price zone. Furthermore, a sharp influx of funds into accumulation addresses, recorded just before the US Federal Reserve's interest rate announcement, signals growing confidence among long-term investors. However, analyst Ali Martinez had previously cautioned about lower potential support levels should the $100,000 mark fail to hold, designating $98,340 as the first critical boundary, a level that was tested during the previous week.

Further bolstering the bullish case is the behavior of the “90-Day Bitcoin Price to Realized Price Gradient Oscillator” indicator. According to data analyzed by Kesmeji, this metric has dropped to an extreme reading of -1.27 standard deviations. Historically, such profoundly low readings have often preceded the conclusion of corrective downturns and heralded subsequent price rallies. For instance, comparable signals in April 2025 coincided with a significant surge from $82,000 up to $100,000, and again in July 2025, where the price climbed from $108,000 to $124,000. This pattern strongly suggests that the current market phase may represent a period of consolidation and regrouping before the initiation of a new upward cycle.

Despite the confluence of optimistic technical indicators, a degree of caution persists across the market. Analysts note that renewed demand for BTC has emerged following a period of relative dormancy, establishing a foundation for potential upward movement, provided key price zones are successfully maintained. Notably, the price has exhibited greater resilience compared to previous cycles, even in the face of significant selling pressure from “OG-whales”—addresses that remained dormant for seven years or more. Since June 2025, these long-term holders have moved over 1 million BTC onto exchanges. The market's ability to absorb this substantial supply shock from old hands indicates robust conviction among current buyers. Thus, the snapshot of November 9, 2025, reveals a complex interplay of technical data pointing toward growth potential, yet requiring confirmation via a decisive breakout above established resistance levels.