Bitcoin recently experienced a decline below the $110,000 mark due to selling pressure from both long-term holders and cautious institutional investors. Despite this downturn, the price remains relatively stable within the range of $108,000 to $110,000. Analysts suggest that historical trends point towards a potential November recovery, driven by seasonal factors. 1 Key factors influencing Bitcoin’s current performance include the actions of long-term holders and concerns surrounding the macroeconomic environment, which have resulted in market volatility around the $108,000-$110,000 level. 2 While some institutional investors are maintaining positions amidst uncertainties, there haven’t been any mass exits yet despite a slowdown in ETF inflows. Brian Armstrong, CEO of Coinbase, noted that institutional investors remain resilient while highlighting the current market landscape’s adjustment to new dynamics. 3 Although volatility has impacted Bitcoin’s psychological price and subsequently affected other cryptocurrencies, the overall trend suggests cautious buy-side activity as reflected by steady exchange inflows. Historical data indicates potential for short-term recoveries following previous rallies in November. Institutional investors continue to accumulate with wallet holdings exceeding 1 BTC. Despite uncertainties surrounding the market, open interest in Bitcoin futures remains robust at $73.39 billion, signifying active market participation. Historical data suggests that November could still deliver gains, supported by on-chain trends indicating confidence in a longer-term recovery.