Bitcoin consolidates near $103K, with $104K support key for short-term direction, while the EV2 project draws growing attention in the Web3 gaming space.
Bitcoin is presently trading just under the $103,099, consolidating after a period of volatility, while traders assess the market’s next directional move. Sentiment has shifted to a more cautious tone, as the $104,000 level of support has emerged as a key area that may determine the short-term outlook of Bitcoin. A hold above this level may support bullish momentum, whereas a break below may provide a deeper correction back towards the $101,000 area.
Funding Rates Indicate Calm Before Next Major Move
Latest data on Bitcoin derivatives indicate a cooling phase in the market, as funding rates and volatility constrict. The chart presents Bitcoin’s price (yellow), along with open interest (OI) weighted funding rates (green and red), to illustrate shifts among traders.
When funding rates are in the green zones above the baseline, positive funding is occurring, indicating long positions are dominant, and bullish sentiment is rising. Conversely, when the rates drop to the red zones, negative funding exists, demonstrating short pressure and bearish sentiment. Looking back, spikes in positive funding have occurred before rallies, while spikes in the negative funding category have occurred before pullbacks and/or liquidation events.
Bitcoin price (yellow) and OI-weighted funding rates (green/red) show neutral sentiment and declining volatility, suggesting a consolidation phase before the next significant market move. (coinglass)Currently, the prices of Bitcoin and funding rates are compressed, indicating a neutral sentiment and a lack of speculative activity. This quiet phase typically signifies that traders are preparing to position for the next breakout. If momentum moves north of support, Bitcoin may retest zones of higher resistance. Conversely, continued weakness could lead to that support level being assessed for downside testing before a trend confirmation.
Indicator Performance and Momentum View
As of 12th November 2025, Momentum tools indicate a reduction in buying pressure. The MACD rejected/saw a bearish crossover when the signal line crossed above the faster line. The histogram also turned red, clearly suggesting that momentum has subsided. Although this does not confirm a trend reversal, it indicates a reduced drive to move higher in the short term.
Bitcoin’s momentum appears to be cooling as the price consolidates around the $103,099 level, signaling cautious market sentiment. (TradingView)The Relative Strength Index was recording a value near 62.70, keeping Bitcoin just above neutral but canceling out its position in overbought territory. The indicator suggests that a level of buying interest exists, but it is also slowing down. Once the RSI indicates a move under 50, a downtrend pressure will begin to escalate.
EV2: Bridge Between Traditional Gaming and DeFi
Alongside the market movement, there are significant developments within the Web3 ecosystem of Funtico’s gaming environment.
The project, working on the Avalanche network, aims to create a bridge between traditional gaming and decentralized finance through a built-in marketplace, offering rare, collection-based digital items and monetized, upgradeable assets.
Players are allowed to interact with NFTs in a marketplace structure, as well as to earn and exchange tokens during gameplay.
The team behind EV2 comprises professionals with backgrounds in gaming and blockchain development, focusing on long-term platform expansion and marketplace systems, all of which are projected to be in place by 2025.
Also, its EV2 Token Presale is ongoing, with the token serving as the central token for Funtico’s Web3 gaming ecosystem.
Final thoughts
In summary, Bitcoin is currently consolidating near $103,099, which suggests a critical decision point for traders. Holding above this support could renew bullish momentum toward $106,600. Meanwhile, interest in the EV2 project reflects growing engagement across the Web3 sector, highlighting continued investor attention toward blockchain innovation and gaming integration.
Website: https://ev2.funtico.com/
Telegram: https://t.me/EV2_Official
X: https://x.com/EV2_Official
The post Bitcoin Price Update: BTC Key Support Holds Despite Cooling Momentum; EV2 Rises in Web3 Gaming Space appeared first on Cryptonews.
