Bitcoin Aims for $107,000 as US Outlook Suddenly Flips Bullish

Bitcoin (BTC) is back above $106,000 to start the week as excitement over the US government reopening takes over.

• Bitcoin joins risk assets in the recovery amid hopes that the US government will end its record shutdown this week.

• US inflation data could also return, providing key insight into future Fed policy.

• US President Donald Trump’s pledge to give most Americans $2,000 is reviving stimulus enthusiasm in the age of the coronavirus.

• Bitcoin derivatives traders remain cautious, with little interest in betting on new highs.

• Bitcoin whales are on the radar as steady sellers throughout 2025.

Bitcoin price rose to $106,500

Finally, Bitcoin gave hope to the bulls with the weekly close, which eventually came above $104,500.

Data from Cointelegraph Markets Pro and TradingView It also confirms that BTC/USD is holding a nearby major support trend line – the 50-week Exponential Moving Average (EMA).

What a close weekly candle.

Are we ready for a green week in the markets?

— Michael van de Poppe (@CryptoMichNL) November 10, 2025

“Watch the $GOLD and $BTC 4-hour trend,” said trader Skew He said Followers on one of his latest posts on X.

The US government shutdown represents a pivotal event for market sentiment, impacting both cryptocurrencies and the broader risk assets landscape.

Data from monitoring resources Queen Glass It shows how much liquidity is at stake, even from BTC’s relatively small price movement. Meanwhile, 24-hour crypto liquidations amounted to nearly $350 million at the time of writing.

When discussing support and resistance levels, trader CrypNuevo had a clear line in mind.

“Another confluence is the short liquidation set at $105.5K. The price will likely target that area,” he wrote in an article. X thread.

“Reaching liquidations will likely add fuel to push the price to $106.5K where there is interesting resistance.”

There is still plenty of caution, with many market participants warning that the rally to local highs near $107,000 could easily be reversed.

$ Bitcoin So far, so good.

I like the fact that volume is down and we just retested the long-term weekly uptrend. https://t.co/VKHP4IcWLn pic.twitter.com/dKfgrvH3ci

– Roman (@Roman_Trading) November 10, 2025

Shutdown talk highlights CPI week

As talk of a US government shutdown draws to a close, inflation data is back on the menu for the Federal Reserve – and risk asset traders.

BREAKING: The US Senate votes 60-40 in favor of a bill in a major breakthrough to end the US government shutdown.

– Al Qubaisi Letter (@KobeissiLetter) November 10, 2025

The Consumer Price Index (CPI) reading is due on Thursday, along with initial jobless claims, followed by the Producer Price Index (PPI) the next day.

The absence of a lockdown would provide a key window into the state of the economy, including the impact of US trade tariffs.

These matters are currently facing Supreme Court scrutiny, and any related announcements could lead to new market volatility.

“Amid data blackout, Fed cuts interest rates and market volatility returns,” trading source The Kobeissi Letter Sum it up Monday.

Al Qubaisi pointed to expectations for further interest rate cuts in 2025, with the Fed’s December meeting expected to lead to another 0.25% decline, according to data from CME Group. Feedwatch tool.

With stocks bouncing back thanks to an improving US outlook, trading resource Mosaic Asset Company has argued that the current market trend could be “the most hated bull market ever”.

“While the impact of the government shutdown and speculation about its longevity dominate the headlines, private sector data point to an economic backdrop that remains supportive of earnings expectations,” she noted in the latest edition of her regular newsletter, “Market mosaic“.

Mosaic also noted “excessive levels of fear,” as reported by several market sentiment gauges.

“If the stock market climbs a wall of anxiety, this latest phase of the stock market rally could be unprecedented in terms of investor fear compared to market gains,” she added.

Tariff “profits” bring back memories of Covid-19

Bitcoin immediately responded to US President Donald Trump’s comments late on Sunday after the latter pledged to pay $2,000 to the majority of US citizens.

Because they were linked to international trade tariffs imposed by Trump, the payments were disclosed in a filing mail On social truth.

“Dividends of at least $2,000 per person (not including people with high incomes!) will be distributed to everyone,” the statement read.

In his reaction, Kobeissi was quick to liken the move to stimulus checks in the era of Covid-19.

“Stimulus checks are officially back.” books On X.

As Cointelegraph reported at the time, the frequent issuance of checks sparked an upward price movement in the cryptocurrency market due to its implied impact on the US money supply. $1,200 checks as of April 2020 invested in Bitcoin at the time are now worth about $20,000.

This time may be no different, analysts told Cointelegraph last week, as they looked for an “additional liquidity catalyst.”

Increases in US and global liquidity have fueled a rally in cryptocurrencies throughout the year. The global money supply now stands at $142 trillion, a new record.

“Year to date, money supply has jumped +9.1%, driven by China and the US,” Kobeissi said. I mentionedDescribing the show as “through the roof.”

Meanwhile, the tariff system hangs in the balance as the US Supreme Court decides its legality.

Options traders are on alert

Bitcoin derivatives traders don’t have much ‘confidence in the bottom’ around $100,000 as open interest rebounds.

Search from onchain analytics platform Vitreous node He warns that “fear” remains the driving force in Bitcoin options markets in particular.

Analyzing selling volumes late last week, Glassnode had little good news for bulls.

“Call and put volumes show little confidence at the bottom. Putting activity spiked during the dip, then calls rose when traders played the bounce near $100K,” he wrote in the X Series.

“Until then, selling prices rise again, and markets expect a retest and remain hedged.”

The data also shows that traders lack a long-term mindset when it comes to Bitcoin, even avoiding the prospects of a rise to $120,000.

“Options data shows the market remains in fear mode, with little confidence in a permanent bottom,” the thread stressed.

Open interest, which had seen a significant decline as the price fell, has already started to rise.

As Cointelegraph reported, the bulls may end up taking longer to stabilize the price and organize their own recovery.

Bitcoin whale selling has become standard

Bitcoin whales dominate the headlines during Bitcoin price declines, as the constant selling makes traders nervous.

Related to: The Bitcoin treasury market tends to end with the short seller pulling back from the MSTR

As Cointelegraph reported, the year 2025 as a whole was marked by whales’ long-term decline in their exposure to Bitcoin. On average, whales sold more than 1,000 bitcoins per day.

However, when you zoom out, the picture changes when it comes to Bitcoin accumulation. in one “Fast take“With blog posts on Sunday, onchain analytics platform CryptoQuant offered several reasons for optimism.

“Today, these early large owners can finally exit the market more easily, and it is essential that this distribution phase takes place,” shareholder Darkvost said.

“Now, if we zoom out and look at the bigger picture, whales are still accumulating in this cycle. Here we can see that the one-year change in whales holding has been increasing since 2023.”

The accompanying chart confirms that over the past two years, the change in whale holdings has remained positive for one year.

Even in recent months, the trend has stabilized – indicating a brighter outlook for prices.

“After a strong August, whale holdings fell sharply from 398,000 BTC to 185,000 BTC in October, just as BTC surpassed $123,000. Since then, accumulation has resumed, and their holdings have risen again to 294,000 BTC as of November 7,” the post continued.

“So, even though some whales are exiting the market, we are seeing new whales arriving, and existing players continue to accumulate as well.”

Pooled Bitcoin wallets added a whopping 50,000 BTC to their total holdings in a single day as the BTC/USD price revisited sub-$100,000 levels.

“In the medium to long term, a portion of the whale population is still increasing its exposure, and the current trend does not look like the distribution phase that unfolded at the end of the 2021 cycle,” Darkvost concluded.

This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision.