Bitcoin News Today: Bitcoin Downtrend Deepens as Price Falls to $87K, but Traders Target Short Liquidity at $100K

Bitcoin’s decline accelerated Thursday, with the price slipping to a six-month low before stabilizing near $87,491, yet traders increasingly expect a sharp upside squeeze toward the $98,000–$100,000 liquidity pocket.Despite bearish technical signals, market participants say a reclaim of key resistance zones could trigger a momentum reversal — though the burden remains squarely on the bulls.Key TakeawaysBitcoin is struggling to hold the $90,000 level, dropping to a six-month low of $88,267.Traders eye short liquidity between $98,000–$100,000, which could fuel a sharp squeeze.BTC lost major long-term support, including the 50-week EMA near $100,000 and the yearly open at $93,300.Analysts warn that $94K, $97K, and $98.5K are the critical levels to reclaim before sentiment turns bullish again.Over $2.1 billion in ask liquidity sits near $96,600–$98,500, creating conditions for a potential rapid upside move.Bitcoin Must Reclaim $98K to Flip Momentum BullishBitcoin has been trending downward since Nov. 3, with consecutive support failures reinforcing bearish sentiment. The breakdown below the:50-week EMA (~$100K)Yearly open ($93,300)has led traders to debate whether the 2025 bull market is over or whether Bitcoin is forming a macro bottom.Swissblock: BTC Is at “Cycle-Level Exhaustion”Private wealth manager Swissblock noted BTC hovering near $90K, saying momentum readings have hit the same exhaustion levels seen:during the March bottomafter the Oct. 10 liquidation cascade“This is where bottoms build,” Swissblock said.“Reclaiming $97K–$98.5K flips momentum constructive. Failing to do so hands bears full control.”Glassnode: $95K–$97K Is Local ResistanceGlassnode analysts identified $95,000–$97,000 as a major barrier, where the -1 STD short-term holder (STH) cost basis currently sits.“Reclaiming it would signal early market equilibrium,” Glassnode wrote.Just above spot price, Bitcoin must break:$94,000 (“local high”)a 290,300-BTC cluster of realized cost basis — a heavy demand zone per Glassnode’s Heatmapto neutralize the current downtrend.The $98K Liquidity Magnet: Will It Pull BTC Higher?While downside risk remains elevated, several traders are focused on the heavy short liquidity stacked between $96,600 and $98,500.According to CoinGlass:More than $2.1 billion in ask orders sit in this zone.BTC is currently “eating away” at liquidity around $92,000.If Bitcoin breaks $98,000, analysts say a short squeeze to $100,000 becomes increasingly likely. AlphaBTC: “$100K–$104K Is a Juicy Target”Bitcoin trader AlphaBTC highlighted the liquidity pocket above $100K:“If $98K breaks, a squeeze to $100K–$104K is on the table.Let’s see if $BTC attempts a move up there before Thanksgiving.”ETF Flows Offer Early Signs of StabilizationAs reported earlier, U.S. spot Bitcoin ETFs recorded $75 million in inflows on Wednesday, ending a five-day streak of outflows.This bounce in flows:eased some downside pressure,hints at early stabilization in institutional demand,and may support attempts to reclaim key resistance levels.Bottom LineBitcoin remains under heavy technical and macro pressure, with the trend firmly pointing downward unless bulls reclaim $94K, $97K, and ultimately $98.5K.But with billions in liquidity overhead — and ETF inflows showing early recovery — traders say a violent short squeeze toward $100K remains a very real possibility if BTC can break out of its current range.