Bitcoin\u2019s correction has sped up over the past week and is now dropping almost vertically. It currently trades around $65K after cutting through several support levels. The latest drop pushed BTC below its daily ascending channel and the key $70K support zone, which leaves deeper demand areas exposed. Meanwhile, the Adjusted SOPR metric indicates that coins moving on-chain are now, on average, being spent at a loss again, which is not a good signal.<\/p>\n
On the daily chart, Bitcoin has broken below the lower boundary of the ascending channel that guided its recovery from the June lows. The breakdown followed a rejection from the $80K zone in early November. It also slipped both the 100-day and 200-day moving averages, located around $78K and $73K, respectively. This is notable, as the two averages printed a bullish crossover only in early October.<\/p>\n
The price has also slipped below the $70K zone, which marks the base of the sharp August rally. To invalidate the breakdown, buyers would need to reclaim this level and then the $73K region, where the channel\u2019s lower boundary and the 200-day moving average meet. Until then, the former support could act as resistance on any relief rally.<\/p>\n
If selling pressure continues, the next demand zone sits around $63K, where the price consolidated during August before the breakout. Below that, the $60K region, which formed the June\u2013July lows, is the more significant floor. A decisive daily close beneath it would effectively erase the recovery structure of the past five months.<\/p>\n
<\/a><\/p>\n The 4-hour chart shows Bitcoin trading within a descending channel since the late-September rejection from the $86K-$87K supply zone, with consistently lower highs and lower lows. The latest attempt to break above the channel\u2019s upper boundary was rejected around $81K in early November, and an aggressive sell-off followed.<\/p>\n The decline first broke the channel\u2019s lower trendline and the $76K demand zone, then accelerated through $70K. BTC briefly dropped toward $65K and is now consolidating around $65.5K, with buyers showing only a minor reaction so far. A relief bounce would likely meet resistance at the $70K zone, which sellers could now defend as supply.<\/p>\n On the downside, the next notable demand lies around $63K, matching the base of the August consolidation on the daily chart. Until BTC reclaims $70K, the short-term structure remains bearish. Any rebound below that level would more likely be a pullback than a reversal.<\/p>\n <\/a><\/p>\n The Adjusted Spent Output Profit Ratio (aSOPR) on CryptoQuant measures whether coins moved on-chain are, on average, being sold at a profit or a loss. It excludes very short-lived outputs. Readings above 1 indicate profit-taking, while values below 1 suggest participants are realizing losses. The chart tracks the metric\u2019s 30-day exponential moving average.<\/p>\n The indicator stayed above 1 for most of 2025 and peaked near 1.07 during the late-2024 rally. It dropped below the threshold in early 2026, reaching approximately 0.98 as BTC fell toward $60K, and dipped again during the June\u2013July lows. After recovering to around 1.013 in October, the 30-day EMA has now fallen back below 1, currently near 0.995.<\/p>\n This shift suggests that recent buyers are selling at a loss, a condition that has often coincided with local bottoms as selling pressure exhausts. However, the metric could decline further, as it did in February. A sustained move back above 1, together with a reclaim of $70K, would be a more convincing sign that the selling phase is easing.<\/p>\n <\/a><\/p>\n \u00a0<\/p>\n The post Bitcoin Price Analysis: Where Is the Bottom as BTC\u2019s Correction Accelerates?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s correction has sped up over the past week and is now dropping almost vertically. It currently trades around $65K after cutting through several support levels. The latest drop pushed BTC below its daily ascending channel and the key $70K support zone, which leaves deeper demand areas exposed. Meanwhile, the Adjusted SOPR metric indicates that […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251572","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251572"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC\/USDT 4-Hour Chart<\/h2>\n
On-Chain Analysis<\/h2>\n
![<\/a><\/p>\nBTC\/USDT 4-Hour Chart<\/h2>\nThe 4-hour chart shows Bitcoin trading within a descending channel since the late-September rejection from the $86K-$87K supply zone, with consistently lower highs and lower lows. The latest attempt to break above the channel\u2019s upper boundary was rejected around $81K in early November, and an aggressive sell-off followed.<\/p>\nThe decline first broke the channel\u2019s lower trendline and the $76K demand zone, then accelerated through $70K. BTC briefly dropped toward $65K and is now consolidating around $65.5K, with buyers showing only a minor reaction so far. A relief bounce would likely meet resistance at the $70K zone, which sellers could now defend as supply.<\/p>\nOn the downside, the next notable demand lies around $63K, matching the base of the August consolidation on the daily chart. Until BTC reclaims $70K, the short-term structure remains bearish. Any rebound below that level would more likely be a pullback than a reversal.<\/p>\n<\/a><\/p>\nOn-Chain Analysis<\/h2>\nThe Adjusted Spent Output Profit Ratio (aSOPR) on CryptoQuant measures whether coins moved on-chain are, on average, being sold at a profit or a loss. It excludes very short-lived outputs. Readings above 1 indicate profit-taking, while values below 1 suggest participants are realizing losses. The chart tracks the metric\u2019s 30-day exponential moving average.<\/p>\nThe indicator stayed above 1 for most of 2025 and peaked near 1.07 during the late-2024 rally. It dropped below the threshold in early 2026, reaching approximately 0.98 as BTC fell toward $60K, and dipped again during the June\u2013July lows. After recovering to around 1.013 in October, the 30-day EMA has now fallen back below 1, currently near 0.995.<\/p>\nThis shift suggests that recent buyers are selling at a loss, a condition that has often coincided with local bottoms as selling pressure exhausts. However, the metric could decline further, as it did in February. A sustained move back above 1, together with a reclaim of $70K, would be a more convincing sign that the selling phase is easing.<\/p>\n<\/a><\/p>\n\u00a0<\/p>\nThe post Bitcoin Price Analysis: Where Is the Bottom as BTC\u2019s Correction Accelerates?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s correction has sped up over the past week and is now dropping almost vertically. It currently trades around $65K after cutting through several support levels. The latest drop pushed BTC below its daily ascending channel and the key $70K support zone, which leaves deeper demand areas exposed. Meanwhile, the Adjusted SOPR metric indicates that […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251572","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251572"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/11\/BTCUSDT-D-scaled.jpg\"){kind=link}
![<\/a><\/p>\nOn-Chain Analysis<\/h2>\nThe Adjusted Spent Output Profit Ratio (aSOPR) on CryptoQuant measures whether coins moved on-chain are, on average, being sold at a profit or a loss. It excludes very short-lived outputs. Readings above 1 indicate profit-taking, while values below 1 suggest participants are realizing losses. The chart tracks the metric\u2019s 30-day exponential moving average.<\/p>\nThe indicator stayed above 1 for most of 2025 and peaked near 1.07 during the late-2024 rally. It dropped below the threshold in early 2026, reaching approximately 0.98 as BTC fell toward $60K, and dipped again during the June\u2013July lows. After recovering to around 1.013 in October, the 30-day EMA has now fallen back below 1, currently near 0.995.<\/p>\nThis shift suggests that recent buyers are selling at a loss, a condition that has often coincided with local bottoms as selling pressure exhausts. However, the metric could decline further, as it did in February. A sustained move back above 1, together with a reclaim of $70K, would be a more convincing sign that the selling phase is easing.<\/p>\n<\/a><\/p>\n\u00a0<\/p>\nThe post Bitcoin Price Analysis: Where Is the Bottom as BTC\u2019s Correction Accelerates?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s correction has sped up over the past week and is now dropping almost vertically. It currently trades around $65K after cutting through several support levels. The latest drop pushed BTC below its daily ascending channel and the key $70K support zone, which leaves deeper demand areas exposed. Meanwhile, the Adjusted SOPR metric indicates that […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251572","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251572"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/11\/BTCUSDT-4H-scaled.jpg\"){kind=link}
![<\/a><\/p>\n\u00a0<\/p>\nThe post Bitcoin Price Analysis: Where Is the Bottom as BTC\u2019s Correction Accelerates?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s correction has sped up over the past week and is now dropping almost vertically. It currently trades around $65K after cutting through several support levels. The latest drop pushed BTC below its daily ascending channel and the key $70K support zone, which leaves deeper demand areas exposed. Meanwhile, the Adjusted SOPR metric indicates that […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251572","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251572"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251572\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/11\/Bitcoin-Adjusted-SOPR-aSOPR-1-scaled.jpg\"){kind=link}