Important points:
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Bitcoin enters an important weekly close with several key price levels at stake.
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One trader said the future of the bull market remains in jeopardy as the whale sell-off continues.
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Risk assets should benefit from lower U.S. trade tariffs and an end to the government shutdown.
Bitcoin (BTC) remained in a tight range ahead of a key weekly close, betting on support at $100,000.
BTC Price Countdown to Key Weekly Close
Data from Cointelegraph Markets Pro and TradingView showed the inertia in BTC price that was characteristic of the weekend’s trading.
Volatility was poor, but market participants were keeping an eye on how the weekly candlesticks would end.
“This week’s key level: $103,500,” wrote crypto trader Titan in a post on X.
Titan of Crypto bases its price point importance on Fibonacci retracement levels, with the bull market potentially in jeopardy.
“While a weekly close below this would not be dramatic, a confirmed breakdown next week would signal that the bull run is likely over. We are not there yet,” he added.
Others noted the close above the 50-week exponential moving average (EMA), currently at $100,940, as a sign of strength.
“We don’t want the week to end any lower than this,” trader Max Krypto warned.
Meanwhile, the risk of a “death cross” with the simple moving average (SMA) on the daily chart was of interest to trader superbro.
Such a scenario occurs when the 50-period SMA falls below its 200-period equivalent.
“We’re approaching the fourth ‘death cross’ of the bull cycle. Each time we see a reversion to the mean and a sustained bottom,” he told his X followers that day.
“But so far, the 365 SMA response has been lukewarm. Let’s see if the bulls can successfully bounce back and reclaim Q3 lows towards the week’s close.”
Bitcoin analyst expects ‘expansion’ once US government shutdown ends
Beyond the chart signals, the crypto market was hoping for positive news regarding the US government shutdown.
Related: Bitcoin ‘speed bump’ to $56,000? Ripple rejects IPO plan: Hodler’s Digest, November 2-8
Expectations were high that lawmakers would take steps to break the impasse as the impact on the U.S. economy became more of an issue.
There were also hopes that the U.S. Supreme Court’s decision to invalidate international trade tariffs (a decision expected soon) would provide an immediate boost to stock prices.
Cas Abbe, a contributor to on-chain analytics platform CryptoQuant, summed it up: “We will see an economic expansion as soon as the U.S. government shutdown ends.”
Abbe uploaded a chart to X, suggesting that the end of the shutdown could mark the end of the “manipulation” phase of BTC price movements.
Cryptocurrency investor and entrepreneur Ted Pillows was cautious, predicting that BTC prices could fall if market expectations are not met soon.
“BTC continues to consolidate near the $102,000 level. The market was expecting the government shutdown to end this weekend, but that didn’t happen,” he said.
“I still think Bitcoin could fall a bit more given the lack of institutional demand and the OG whales being sold off.”
Cointelegraph reports that Bitcoin whales have created sustained selling pressure throughout 2025.
This article does not contain investment advice or recommendations. All investment and trading moves involve risk and readers should conduct their own research when making decisions.
