Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin has regained footing after a turbulent week of selling pressure, reclaiming crucial support levels and signaling early signs of recovery. Bulls are cautiously stepping back in, though conviction remains limited as the $110K resistance — a key psychological and technical barrier — has yet to be tested.
According to CryptoQuant data, underlying market dynamics suggest that a continuation of current momentum could fuel a potential surge toward $115K. The rebound follows a period of heightened liquidations and bearish sentiment that briefly pushed Bitcoin below $100K, triggering panic among short-term traders.
On-chain metrics now show improving stability across several fronts. Spot exchange outflows have increased, suggesting that investors are once again moving BTC into self-custody, a sign of renewed holding behavior. At the same time, derivatives market data indicates cooling open interest and reduced leverage — conditions that historically precede healthier, more sustainable uptrends.
Short-Term Holder MVRV Suggests Potential for Bitcoin Recovery
Top analyst Axel Adler highlights that Bitcoin’s Short-Term Holder (STH) MVRV ratio has shown early signs of recovery following last week’s sharp correction. On November 7, the metric reached a local low of 0.9124, nearing the lower boundary of its historical range — a zone that has often aligned with short-term market bottoms.
As of today, the STH MVRV has climbed to 0.9514, signaling that selling pressure among short-term holders may be easing. This stabilization suggests a potential shift from capitulation to recovery, as traders who bought at higher levels begin to reduce loss-taking behavior.
Historically, when the STH MVRV holds above 0.92 and begins trending upward, it often precedes a renewed bullish impulse. Adler notes that if this pattern continues, the metric could rise toward the upper boundary of its range, typically associated with price levels between $115K and $120K.
This trend aligns with Bitcoin’s recent technical rebound and improving on-chain sentiment. While further confirmation is needed, maintaining the MVRV above this critical threshold could indicate that the market has absorbed much of the short-term selling pressure — laying the groundwork for a potential recovery phase in the weeks ahead.
Reclaiming Ground After Sharp Correction
Bitcoin is showing early signs of recovery after a volatile drop below $100K, reclaiming key technical levels and stabilizing near $105,000. The daily chart shows a short-term bullish reaction following the bounce from the 200-day moving average (red line) — a critical dynamic support level that has repeatedly marked the bottom of corrective phases throughout this cycle.
However, the broader trend remains cautious. The 50-day (blue) and 100-day (green) moving averages are above the current price, and both are flattening, signaling that momentum remains weak. A decisive breakout above the $108K–$110K resistance zone is needed to confirm a potential trend reversal and shift sentiment.
If Bitcoin maintains support above $103K and consolidates with rising volume, the next target could align with the $115K region — in line with on-chain signals pointing to a recovery. Conversely, a breakdown below $100K could reopen downside risk toward $95K.
Featured image from ChatGPT, chart from TradingView.com
