Bitcoin traded around $102,000 on Thursday, unable to reclaim the mid-$100,000 zone after pulling back from its October 6 all-time high. Long-term holders have been gradually selling, while the $108,000–$110,000 resistance band remains a key barrier. On-chain metrics suggest a potential structural bottom may be forming.

Taiwan's Executive Yuan and Central Bank have agreed to study Bitcoin as a potential strategic reserve asset. Legislator Dr. Ju-chun Ko is spearheading the initiative, arguing the digital currency could diversify Taiwan's $577 billion foreign exchange reserves and reduce exposure to US dollar-denominated assets. The nation currently holds approximately 423 metric tonnes of gold, with roughly 92% of reserves in US Treasury bonds.

Taiwan's Central Bank and Executive Yuan approved a formal Bitcoin reserve review on November 12, 2025, according to joint official statements. The pilot program will use seized Bitcoin from criminal cases to test integration methods, storage protocols, and valuation frameworks without purchasing new assets. Legislator Ko Ju-Chun of the Kuomintang party introduced the proposal in May 2025, citing Bitcoin's potential as a hedge against geopolitical risks.

Bitcoin is trading at $103,400 with 24-hour volume of approximately $74.5 billion. Analysts are monitoring the 66-week exponential moving average near $94,000, an unfilled CME futures gap, and a potential death cross as the 50-day simple moving average approaches the 200-day SMA. Several technical patterns suggest the cryptocurrency may be nearing a significant support zone.

Taiwan's Executive Yuan and Central Bank have launched a pilot program to study Bitcoin as a potential strategic reserve asset. The initiative will use confiscated Bitcoin from legal cases, with legislator Dr. Ju-chun Ko leading efforts to diversify financial reserves and reduce reliance on the US dollar. Premier Cho Jung-tai expects a comprehensive assessment by end-2025.

Bitcoin's daily chart shows deteriorating momentum with the 9-day EMA crossing below the 20-day EMA. The Crypto Fear & Greed Index has dropped to 15 out of 100, marking extreme fear levels last seen in March. Analysts note this fear-driven environment has historically preceded rallies, with long-term holders accumulating while short-term participants exit positions.

Early Bitcoin investor Owen Gunden sold 700 BTC through Kraken on November 11, bringing his weekly total to 1,800 BTC worth $200 million. Long-term holders have distributed approximately 414,000 BTC in November, valued at roughly $43 billion. Negative ETF flows and increased options hedging activity signal mounting market caution as traders position for potential downside below $100,000.

Bitcoin is trading around $102,100 as MicroStrategy's proportion of total corporate BTC reserves declines to 60% from 75% earlier this year, data show. Morgan Stanley warns the asset may be entering a profit-taking phase, while a stronger U.S. dollar adds near-term pressure. Technical patterns suggest a potential breakout above $104,000 could trigger a rally toward higher levels.