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The Week That Was
Over a five-day period from November 10 to November 15, 2025, the Bitcoin market underwent a dramatic narrative inversion, shifting from a macro-fueled relief rally to a technically driven breakdown and capitulation. The period began with a decisive price surge to the 106,000−107,500 range, catalyzed by the resolution of the U.S. government shutdown. This rally was characterized as climbing a “wall of worry,” defined by contradictory on-chain data showing profit-taking by experienced holders and massive institutional outflows from spot Bitcoin ETFs.
The market’s turning point was a “sell the…
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