Bitcoin's sideways price action in 2025 represents a transition phase resembling a "silent IPO," with early holders selling to institutional buyers, according to Bitwise Chief Investment Officer Matt Hougan. He characterized this consolidation as a healthy maturation process that positions bitcoin for larger portfolio allocations as volatility declines and mainstream adoption expands.

Bitcoin is testing the 50-week moving average as prices fall below $110,000, a technical level that has historically preceded deeper corrections. The cryptocurrency has formed lower highs since reaching nearly $120,000 earlier this year, mirroring the pattern observed before the 2022 downturn. Analyst TradingShot notes the setup suggests Bitcoin may be entering a fresh bear cycle, with potential support near $80,000 if the key moving average fails to hold.

Tokyo-listed Metaplanet obtained a $100 million loan collateralized by its Bitcoin treasury on October 31, 2025. The financing utilizes 3 percent of the company's 30,823 BTC reserves. The loan carries no expiration date and draws on a $500 million credit facility announced October 28, 2025.

MicroStrategy's 641,205 BTC holdings are shielded from forced sales through convertible debt instruments that allow settlement via stock issuance or cash, according to Bitcoin analyst Willy Woo. The company's $1.01 billion debt maturing in September 2027 would only trigger liquidation risk if its stock falls below $183.19, equivalent to Bitcoin at $91,500. Despite Bitcoin's recent 10% weekly decline to $101,377, the firm maintains the largest corporate Bitcoin position globally.

Senator Cynthia Lummis has identified a Strategic Bitcoin Reserve as the sole mechanism to offset the United States' mounting national debt. She praised President Trump and his administration for supporting the initiative. Lummis expressed confidence the reserve would appreciate over time and serve as a fiscal counterweight on the government's balance sheet.

Bitcoin dropped below $110,000 as U.S.-based investors intensified selling, widening the Coinbase Premium Gap, according to analyst Crypto Rover. Technical analysts warn the weakness may persist for several weeks, though some view the pullback as a consolidation phase ahead of potential recovery.

Bitcoin briefly touched the $100,000 level during a market-wide sell-off. The decline forced the closure of over $1.6 billion in leveraged long positions within 24 hours. Analysts cite risk-averse sentiment and uncertainty over Federal Reserve rate policy as key drivers.

Bitcoin has dropped more than 20% from its recent peak, bringing the price close to $89,613—the average cost basis for U.S. spot Bitcoin ETF holders. Many retail investors who entered these products earlier this year now face potential losses if the cryptocurrency falls below this level. Weak market participation and lingering caution from October's liquidation event have contributed to the broader downturn.