According to @charliebilello, BTC is trading near 103,600, down 18% from its October 6 all-time high of 126,000, which he characterizes as not a big decline for Bitcoin, source: Charlie Bilello on X, Nov 4, 2025. For trading decisions, the cited 126,000 and 103,600 levels frame the current drawdown range to monitor for momentum shifts and risk management, source: Charlie Bilello on X, Nov 4, 2025.