Bitcoin (BTC) experienced a sell-off at Thursday's Wall Street open, with traders closely watching the next key support levels. The cryptocurrency saw its price decline as the US trading session commenced, prompting a correction.
Several trendlines are aligning, presenting a challenge for bulls aiming to reclaim lost support around the $100,000 mark. Speculators were quick to take profits on their Bitcoin holdings.
BTC Price Eyes Failed November 2025 Support
Data from TradingView indicated that Bitcoin's price shed over 1% from its daily open, reaching lows of $95,563 on the Bitstamp exchange. This weakness saw BTC/USD diverge from stocks and precious metals, which were trading higher following reports of de-escalating geopolitical tensions between the US and Iran.
BREAKING: President Trump has told Iran he does not want war and will not launch an attack, according to Iran’s ambassador to Pakistan.
— The Kobeissi Letter (@KobeissiLetter) January 15, 2026
Oil prices are down sharply on the news. pic.twitter.com/5U75aRUpPm
Market participants are now focused on the levels that need to be preserved during a potential correction within the current local uptrend.
Daan Crypto Trades, in a post on X, highlighted the importance of the $94,000 region for bulls, stating that any move back below this level would be unfavorable after what he described as a "solid breakout."
“From here on out, the Daily 200EMA is next up. That one rejected price back in November right before the large drop.”
Daan Crypto Trades was referring to the 200-day exponential moving average (EMA), which is currently situated around $99,555.
Earlier, Cointelegraph reported on the bull market support band, which is located near $101,000. This level, along with the 50-week EMA, is now a significant point of interest. The target for the weekly close was set at $93,500, which corresponds to the yearly open of 2025.
Bitcoin Speculators Take Profit at Highs
Onchain analytics platform CryptoQuant revealed that newer Bitcoin investors had already been incentivized to sell their holdings. As the price reached two-month highs, short-term holders (STHs) – those holding for up to six months – transferred approximately 40,000 BTC to exchanges within a 24-hour period.
Of this amount, around 37,800 BTC was sent in profit, based on their previous onchain transactions.
In a "Quicktake" blog post, CryptoQuant contributor Darkfost noted, "STHs remain clearly impacted by the recent correction, and it seems that more upside and stronger confirmation will be needed to rebuild confidence and generate enough unrealized profits to encourage them to hold rather than sell."
Further data from CryptoQuant contributor Axel Adler Jr. indicated that the aggregate cost basis for the STH cohort was $99,600. This reinforces the area around $99,600 as a potential future resistance point.
