Bitcoin trades below resistance as China’s mining rebound and security risks shape market outlook
Bitcoin continues to trade under key resistance levels even as China quietly reclaims a major share of global mining power and personal-security risks for crypto holders rise.
Bitcoin trades below resistance
The recent decline in the Bitcoin price is taking place despite mining in China quietly making a comeback, regardless of the country’s 2021 ban on both crypto trading and mining.
Data from the Hashrate Index show that as of October 2025, China has regained approximately 14 % of global Bitcoin mining share - placing it back at third worldwide.
One of the major mining-rig manufacturers, Canaan Inc., reported that more than half of its quarterly revenue now comes from sales in China, compared with just 2.8 % in 2022.
Analysts suggest that this resurgence is driven by regions with surplus electricity and data-centre capacity, especially provinces like Xinjiang where transmission bottlenecks encourage local consumption via mining.
The revival of Chinese mining capacity may offer structural support to Bitcoin’s network and may constitute a bullish narrative for the asset, especially if China’s enforcement of the ban remains lax or shifts toward tacit tolerance.
At the same time, the safety and security risks around Bitcoin ownership have been brought sharply into focus.
In San Francisco’s Mission Dolores neighbourhood, an armed individual posing as a delivery worker stole approximately $11 million worth of cryptocurrency - including Bitcoin - from a homeowner after restraining the victim with duct tape.
The incident underscores a cluster of violent crypto-thefts targeting affluent investors whose possessions or holdings are publicly visible. Security experts warn that as Bitcoin becomes more mainstream and its holders more conspicuous, the personal-security risk grows.
Together, these two developments reflect contrasting forces in the Bitcoin ecosystem: on one side, a rebound in underlying network capacity via mining, and on the other, elevated threats to investor security and sentiment.
The mining rebound may provide medium-term structural tailwinds for Bitcoin - by increasing network resilience and signalling institutional-grade infrastructure recovery - while the rising personal-security incidents may weigh on retail sentiment or act as a deterrent for new participants.
What is also interesting is that despite the probability of a December Federal Reserve (Fed) rate cut rising from around 40% last week to 75% this week – following dovish Fed talk – this hasn’t significantly translated to a recovery in the Bitcoin price.
Bitcoin bearish case:
While the 23 November high at $88,133.45 isn't bettered on a daily chart closing basis, downside momentum remains dominant with the $80,000.00 region representing a possible target zone.
Bitcoin bullish case:
Were Bitcoin to experience a bullish reversal which would take it above the psychological $100,000.00 mark, the 11 November high at $107,461.75 may reached. This level would need to be exceeded, though, for the current medium-term downtrend to be invalidated.
Bitcoin daily candlestick chart
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