$BTC down 7.8% month-over-month ($83.5K → $77K). October narrative completely flipped from bullish positioning to silence. Market participants now split between:
1. Accumulation at current levels (~$77K support)
2. Waiting for further downside before entry
November historically volatile for crypto - but positioning into it from a losing October changes the setup. Key levels: $75K downside, $80K reclaim for momentum shift.
Question is whether this consolidation phase ends with capitulation or base-building. Volume and funding rates will tell the story over next 2 weeks.
1. Accumulation at current levels (~$77K support)
2. Waiting for further downside before entry
November historically volatile for crypto - but positioning into it from a losing October changes the setup. Key levels: $75K downside, $80K reclaim for momentum shift.
Question is whether this consolidation phase ends with capitulation or base-building. Volume and funding rates will tell the story over next 2 weeks.