Bitcoin (BTC) Price Momentum Faces Stiff Resistance Below $100K as Spoofing and Profit-Taking Mount

Bitcoin (BTC)'s price momentum faced strong opposition as manipulative trading tactics and heavy profit-taking kept the $100,000 milestone out of reach.

Bitcoin’s (BTC) price action faced strong opposition on Black Friday as manipulative trading tactics and hefty profit-taking kept the $100,000 milestone out of reach.

BTC/USD traded at $97,000 during early Friday, encountering stiff resistance as sellers aimed to maintain control of the market.

Spoofing, Liquidity Games Below $100K

According to data from Cointelegraph Markets Pro and TradingView, Bitcoin’s pivotal support level had shifted to $97,300. Skew, a prominent market analyst, highlighted the presence of bid liquidity at $95,000, but noted fresh “ask walls” around $99,000-$99,500, indicating "spoofing" activity aimed at pushing the price lower.

“Ask liquidity moving lower with price… likely was removed already,” Skew explained, noting how spoofing during low-liquidity hours forces automated bots to sell, ultimately resulting in price drops.

Profit-Taking Hits Record Levels

Amid the turbulence, long-term Bitcoin (BTC) holders realized record profits of $443 million on Nov. 22 as BTC reached an all-time high of $99,800, data from CryptoQuant showed. Unrealized profits reached 57%, nearing the March 2024 peak of 69%, signaling potential for a price correction.

Analyst Maartunn highlighted the elevated levels, warning, “This is approaching the March 2024 peak, signaling an increased probability of a price correction.”

Market Predictions, Long-Term Outlook

Despite near-term resistance, optimism remained for Bitcoin’s trajectory. Caleb Franzen, creator of Cubic Analytics, reiterated his bullish $175,000 BTC price target for 2025.

“The Bitcoin bull market is right on schedule,” noted Franzen in a Nov. 23 blog post. “BTC still needs to gain +77% to meet my target, but we’ve seen a similar rate of growth since September 2024.”

Historical data seemed to support Franzen’s confidence, showcasing parallels between this bull market and previous cycles.

Looking ahead, traders remained divided between bullish long-term targets and cautious near-term corrections as Bitcoin (BTC) encountered resistance below $100,000.

Whether BTC will be able to break past its current ceiling or face a retracement to $90,000 will be determined by market liquidity dynamics and continued investor sentiment.