A trader has suggested that Bitcoin may be forming a bottom at $101,000.

After recovering to $110,000 over the weekend, the leading cryptocurrency has corrected to $107,000. A trader nicknamed CrypNuevo believes that digital gold faces “one of its most challenging trading weeks.”

$BTC Sunday update:

In all honesty, it looks like this could be one of the most difficult trading weeks of Q4.

That makes me think we might be in a range-bound environment; therefore, I should be aware of a potential range of lows retest.

Let's give this a thought:

🧵↓(1/6) pic.twitter.com/QzhiSqha8i

— CrypNuevo 🔨 (@CrypNuevo) November 2, 2025

“This suggests to me that we are likely in a sideways range, meaning we should be prepared for a potential retest of its lower boundaries,” he noted.

The expert noted a coincidence: the price lows correspond to the 50-week exponential moving average at $101,150. According to him, this increases the likelihood of a bottom forming in this zone.

A similar situation was observed in October, when the Bitcoin price sharply fell from its all-time high of $126,200.

“If this is indeed an accurate range, a breakout is likely to occur to the upside due to solid support at the lower limits and liquidity imbalances above the upper limits,” CrypNuevo added.

Historically, the first week of November is considered one of the most favorable for the first cryptocurrency.

Historically, this is one of Bitcoin's most bullish weeks of the entire year 🔎

Reversal incoming? 🤔 pic.twitter.com/bNKE6Mf8Je

— Bitcoin Archive (@BTC_Archive) November 3, 2025

A trader under the pseudonym Daan Crypto Trades believes that the distribution of liquidity in the order book must be taken into account to determine the nearest price targets.

Gm! New week ahead. Video live in a few hours. Speaking about exactly this current region for $BTC and my view on the cycle.$BTC Two big liquidity levels had built up in the short term during the weekend range.

Price took out the lower bound that was sitting at $108.5K.… pic.twitter.com/4fKvDvTrIF

— Daan Crypto Trades (@DaanCrypto) November 3, 2025

He emphasized that two significant clusters formed over the weekend—November 1 and 2. Significant order volumes remained near the $112,000 mark, and over broader timeframes, in the $105,000 and $117,000 zones.

Bitcoin maximalist Mark Cullen has highlighted the risks associated with liquidity accumulating below current levels:

“The leading cryptocurrency looks weak, and the lower cluster seems like a tempting target. The question is whether we'll see another attempt at growth before a deeper correction in the coming days or weeks. Everything will depend on the first American trading session.”

The “Old Guard” is putting pressure on the price

QCP analysts have recorded large Bitcoin transfers to the Kraken exchange by early investors. They say these players have continued the trend, which “explains the first 'red' October for cryptocurrency since 2018.”

“The theory that long-standing holders are initiating the current consolidation appears reasonable. Recent sell-offs, including today's, have had no clear macro-catalyst, despite the rise in stocks and other risky assets amid supportive policy conditions,” the experts added.

They also emphasized that volatility and demand for protective options have increased over the past week. However, the overall situation “indicates a lack of panic and fear” of a potential collapse.

Digital gold is also resilient – over the past month, the market has absorbed 450,000 BTC from the “old” supply, preventing it from falling below $100,000.

“Despite a slowdown in accumulation by corporations like Strategy and Metaplanet, as well as minor selling by small Treasuries, spot prices remain supportive. Even the outflow from ETFs last week failed to break Bitcoin's current range,” QCP noted.

Experts believe the current consolidation resembles the period leading up to a breakout in 2024. Otherwise, it could signal the beginning of a crypto winter, the analysts concluded.

As a reminder, Sigma Capital CEO Vineet Budki predicted a 70% drop in Bitcoin.

For more information on digital gold's dynamics in October, read ForkLog's latest digest.