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Bitcoin tests key support after 10% drop; recovery depends on new buyers returning to profit.

Technical Signals
05 Nov 2026, 14:23 WIB
Tokenpost
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Neutral
Bitcoin tests key support after 10% drop; recovery depends on new buyers returning to profit.

Bitcoin recently dropped about 10% from its September high, causing most short-term holders to be at a loss, down from nearly all being in profit in early October. Key support levels like the True Market Mean and Short-Term Holder Cost Basis are being retested, which is normal after a breakout. Trading volume remains steady despite the pullback, but US spot ETFs have seen nearly $1 billion in outflows recently, indicating the market is driven more by existing crypto capital than new money. Options positioning suggests potential year-end upside, though no clear directional bias is evident yet.

Bitcoin's recent price action is highlighted here as context for readers. For those following cryptocurrency markets, Pluang data as of Nov 05, 2026 19:22 WIB shows 37 of 50 major cryptocurrencies rose while 11 fell. Notable moves include EOS up 8.13% at Rp12.649 with a typical hold time of 87 days, ATOM up 5.82% at Rp27.472 with 98% buy order activity and a 61-day hold, and BCH up 5.42% at Rp5.252.842 with 96% sell order activity and a 69-day hold.

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