Bitcoin (BTC) storms back above $106,000 to start the week as US government reopening excitement takes over.
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Bitcoin joins risk assets in rebounding amid hopes that the US government will end its record shutdown this week.
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US inflation data could also return, providing key insight into future Fed policy.
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US President Donald Trump’s pledge to give most Americans $2,000 rekindles COVID-era stimulus enthusiasm.
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Bitcoin derivatives traders remain cautious, with little interest in betting on new highs.
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Bitcoin whales are on the radar as consistent sellers throughout 2025.
BTC price spikes to $106,500
Bitcoin finally gave bulls hope at the weekly close, which ultimately came in above $104,500.
Data from Cointelegraph Markets Pro and TradingView also confirms BTC/USD preserving a key nearby support trend line — its 50-week exponential moving average (EMA).
What a weekly candle close.
Are we ready for a green week on the markets?
— Michaël van de Poppe (@CryptoMichNL) November 10, 2025
“Keep an eye on $GOLD & $BTC 4H trend,” trader Skew told followers in one of his latest posts on X.
The US government shutdown marks a pivotal event for market sentiment, affecting both cryptocurrency and the broader risk-asset landscape.
Data from monitoring resource CoinGlass shows the amount of liquidity at stake, even from a relatively small BTC price move. 24-hour cross-crypto liquidations, meanwhile, stood at nearly $350 million at the time of writing.
Discussing support and resistance levels, trader CrypNuevo had a clear line in the sand in mind.
“Another confluence is the short liquidation cluster at $105.5k. Price will likely target that zone,” he wrote in an X thread.
“Hitting the liquidations would likely add fuel to move price to $106.5k where there is an interesting resistance.”
Plenty of caution remained, with various market participants warning that the uptick to local highs near $107,000 could easily reverse.
$BTC so far so good.
I like the fact that volume is dropping & we just retested the long term weekly uptrend. https://t.co/VKHP4IcWLn pic.twitter.com/dKfgrvH3ci
— Roman (@Roman_Trading) November 10, 2025
Shutdown talk brings CPI week into focus
With talk of the US government shutdown coming to an end imminently, inflation data is back on the menu for the Federal Reserve — and risk-asset…
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