Bitcoin is expected to trade within a narrow range this November, with analysts pointing to a consolidation phase between $106,000 and $116,000. The cryptocurrency's upward momentum has been hindered by ongoing selling pressure from long-term holders and subdued institutional interest following October's market liquidation. Bitfinex data indicates that Bitcoin holders are distributing 104,000 BTC monthly, marking the highest level since mid-July. Analysts caution that without significant inflows from ETFs or new demand, Bitcoin could retest the $106,000–$107,000 range, with a potential decline to $100,000 if support levels break. Additionally, global funding rate shifts and uncertainty surrounding Federal Reserve policies contribute to the complex macroeconomic environment affecting Bitcoin's price trajectory.