**Bitcoin Price Cools as Market Eyes Key $91,000-$97,000 Support Zone**
Bitcoin’s price momentum has softened following its October peak, with analysts now watching whether buyers will defend the crucial $91,000 to $97,000 support area. As of publication, Bitcoin is trading near $102,292, down 1.3% over the past 24 hours. Over the last week, the price has declined about 7%, and it’s off roughly 16% across the past month. Currently, Bitcoin sits around 18% below its all-time high of $126,080, set in early October.
**Market Activity and Futures Data**
Spot market activity remains substantial, with a 24-hour trading volume of approximately $69.5 billion—an increase of 14.8% compared to the previous day. In Bitcoin futures, total trading volume rose 8% to $107.5 billion, while open interest grew by 1.4% to $69.6 billion. When open interest rises alongside slipping prices, it generally suggests traders are adding to positions rather than backing away, which could prolong the current trend.
**MVRV Ratio Signals Cooling, Not Collapse**
A recent analysis from CryptoQuant contributor Sunny Mom highlights a developing divergence in Bitcoin’s MVRV (Market Value to Realized Value) ratio, which measures unrealized profit across the network. Throughout this cycle, the MVRV ratio has consistently found support in the 1.7 to 1.8 range—a zone that has acted as the market’s “profit floor” since early 2024.
If Bitcoin’s price and sentiment retest this area, it would closely coincide with the $91,800 to $97,200 price range. This technical region gains further significance as it also overlaps with a notable, unfilled CME gap near $92,000.
Despite recent gains, unrealized profit margins have been compressing, as shown by the bearish divergence in MVRV. This indicates that buyers are becoming more cautious, though it does not confirm a cycle top. Similar divergences were seen in 2017 before Bitcoin’s final parabolic rally.
**Corporate Buying Slows as Caution Rises**
Corporate Bitcoin accumulation noticeably slowed in October. Companies purchased roughly 14,400 BTC, a sharp drop from September’s 38,035 BTC. The market capitalization of Bitcoin-holding firms has also declined relative to their holdings, suggesting heightened caution amid the recent downturn.
**Bitcoin Price Technical Analysis**
The short-term outlook remains cautious, with Bitcoin still trading beneath all significant short- and long-term moving averages. The Relative Strength Index (RSI) hovers near 37, reflecting a cooling market rather than oversold conditions. The Commodity Channel Index (CCI) and momentum readings point to early signs of potential stabilization or value-driven buying at these levels.
However, the MACD (Moving Average Convergence Divergence) remains negative, and most moving averages continue to sit above current prices—highlighting that downward trend pressure is still dominant. A decisive move above $105,800 could reestablish bullish momentum. On the other hand, a failure to maintain support above $97,000 may pave the way for a drop towards the CME gap region around $92,000.
**Conclusion**
Bitcoin’s price correction has ushered in a more cautious market tone. The coming days will be critical as traders watch to see if the $91,000-$97,000 support zone holds—or if further downside towards $92,000 is in store. Increased trading volumes and technical signals suggest the market is at a pivotal moment, with caution prevailing but a sharp reversal still possible.
https://crypto.news/bitcoin-price-drop-mvrv-btc-buyer-fatigue-2025/
