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- BTC reclaimed $106K amid US reopening and stimulus optimism.
- Whale accumulation signals potential medium-term support.
- Market remains cautious with options traders expecting volatility.
Bitcoin (BTC) reclaimed momentum this week, climbing above $106,000 after investors reacted to news of the US government’s potential reopening. The cryptocurrency joined a broader risk-asset rally as hopes of renewed economic activity and stimulus checks fueled optimism. BTC closed last week above $104,500, preserving support at its 50-week exponential moving average (EMA), a key technical level for traders.
What a weekly candle close.
— Michaël van de Poppe (@CryptoMichNL) November 10, 2025
Are we ready for a green week on the markets?
Market sentiment has been further boosted by US President Donald Trump’s promise of $2,000 payouts to most Americans, reviving memories of COVID-era stimulus programs. Analysts note that such liquidity injections could act as a fresh catalyst for crypto markets, potentially mirroring past bullish responses to stimulus checks.
Caution remains in derivatives markets
Despite Bitcoin’s upward swing, derivatives traders remain wary. Options activity shows a market still dominated by fear, with put–call ratios indicating little confidence in a long-term bottom around $100,000. Glassnode data confirms that while some traders are playing the rebound, the majority expect a retest of lower levels before a sustainable rally.
So I'm favoring longs, yes.
— CrypNuevo 🔨 (@CrypNuevo) November 9, 2025
Another confluence is the short liquidation cluster at $105.5k. Price will likely target that zone.
Hitting the liquidations would likely add fuel to move price to $106.5k where there is an interesting resistance.
So $106.5k would be my take profit. pic.twitter.com/iv3hY0e7qv
Additionally, BTC whales continue to shape market dynamics. Throughout 2025, major holders have consistently sold BTC, though accumulation trends indicate long-term confidence. Recent data from CryptoQuant shows whale holdings climbing back to nearly 294,000 BTC after previous dips, suggesting a gradual buildup that could support prices in the medium term.
Also Read: MicroStrategy Short Ends as Bitcoin Treasury Rebounds
US economic data in focus
Investors are also eyeing upcoming US economic indicators, including the Consumer Price Index (CPI) and Producer Price Index (PPI). With the government shutdown ending, these metrics could provide clarity on future Federal Reserve policy, including potential rate cuts. The Fed’s expected December rate adjustment remains a key factor influencing both crypto and stock markets.
While BTC faces near-term volatility, the broader picture shows resilience amid liquidity injections, strategic whale accumulation, and improving macro conditions. Analysts remain cautious but acknowledge that the current market environment provides a potential setup for a sustained bullish phase.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
