Copyright Benzinga
Bitcoin (CRYPTO: BTC) has recovered to $105,000, with over $500 million in Bitcoin ETF inflows helping stabilize market sentiment and cushioning recent volatility. What Happened: After October's sharp pullback, Bitcoin appears to be building a mid-term base between $100,000 and $108,000, showing early signs of recovery. Glassnode data shows the relative strength index has rebounded from oversold levels, seller pressure is easing, and spot trading activity remains elevated. This suggests potential volatility if BTC breaks above the $111,000–$116,000 resistance range. Derivatives data reflects continued deleveraging and cautious positioning, while ETF outflows are slowing and on-chain metrics indicate renewed capital rotation and steady network health. Despite weak profitability among short-term holders, analysts note that these stress periods often mark early stages of accumulation. Also Read: What Are Bitcoin, Ethereum, Solana Whales Betting On? Why It Matters: Trader Daan Crypto Trades pointed out that Bitcoin is showing short-term strength, but a decisive break above $107,000 is needed to confirm a bullish deviation and reclaim its previous trading range. Macro conditions also remain supportive, with the Fed ending quantitative tightening (QT) and signaling potential rate cuts, risk assets like Bitcoin could benefit from improving liquidity. Still, ongoing whale distribution tied to the four-year cycle continues to limit upside momentum. Traders are advised to watch high time-frame structures closely: while Bitcoin's daily trend remains cautious, the weekly and monthly outlooks stay bullish, reflecting consolidation within a broader uptrend. Read Next: Bitcoin Back To $105,000 As Ethereum, XRP, Dogecoin Regain Ground On $500M ETF Inflows Image: Shutterstock
