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Bitcoin (BTC) is once again showing strong momentum after rebounding from $103,575, marking a steady recovery in recent times. The cryptocurrency has reclaimed the major moving averages and is now testing the 200-day moving average area near $115,900. This marks an important inflection point, with bulls looking to confirm a mid-term trend reversal. Momentum builds as key levels tightenBTC price has climbed above the 20, 50, and 100 EMA and is consolidating below the 200 EMA. The 50% Fibonacci retracement level near $114,924 acts as a short-term resistance, above which could push the price towards $117,600 and $121,400. If the price holds above $113,000, the bullish structure will remain stable ； If the price falls below $114,000, it may face correction pressure towards $111,400 and $109,300. The technical tone of the market remains positive, with continued closing above $115,000, which may indicate renewed interest from institutional investors. If this momentum can be maintained, it is expected to promote the next round of Bitcoin's rise, targeting $126,000, completing the rebound after September's decline.Open interest and market positioning Bitcoin futures open interest has reached $74.21 billion, one of the highest levels since early 2024. The continued growth in open interest indicates increasing leverage activity and trader confidence. Furthermore, this growth also reflects the return of institutional investors to the derivatives market as more players prepare for higher volatility. However, an increase in open interest often signals significant market volatility, especially during periods of liquidation. As a result, derivatives markets remain balanced between optimism and risk sentiment, suggesting a cautious but strong bullish bias towards the end of the year. FX outflows signal long-term confidence Throughout 2025, net outflows from Bitcoin exchanges increased steadily, indicating that selling pressure from long-term holders has weakened. The latest data on October 27 showed that Bitcoin net outflows fell slightly to $47.71 million, and the transaction price was approximately $115,604. this one trend The trend shows that investor confidence is growing and investors are moving assets to cold wallets instead of storing them on exchanges. Mt. Gox repayment delays raise concernsSeparately, the trustees of Mt. Gox cited procedural delays. Will The creditor repayment deadline has been extended to October 2026. This is the third extension since 2023. While the extension limits short-term supply risks, it prolongs uncertainty for creditors who have long awaited repayments. Technical Outlook for Bitcoin PriceBitcoin is consolidating near $115,000 after recovering sharply from $103,575, with key levels still clearly visible.
The chart structure suggests that Bitcoin is stabilizing within a recovery channel, with momentum gradually building after a prolonged correction. A decisive break above $117,600 would confirm its bullish continuation, with a price target of $121,000-126,000 ； Failure to maintain above $114,000 could trigger a new round of consolidation. Can Bitcoin Hold the $115,000 Area?Bitcoin’s short-term outlook depends on whether buyers can hold on to support at $114,000-115,000 and push it above $117,600. Rising open interest, steady exchange outflows, and increasing institutional investor holdings point to growing market confidence, but rising leverage could exacerbate volatility. If the buying momentum continues, BTC could target $121,400 and eventually retest $126,000 before the end of the year. However, a break below $111,900 would erode bullish confidence and a retracement to $109,000 is possible. Where are the opportunities? Guide to planning for a bear market 🚀 BNQ: A high-potential platform currency that is strong and resistant to falling prices. The recent short-term market adjustment provides an excellent opportunity for new players to join BNQ (Biniu Coin). As the core asset of the BitNasdaq platform, BNQ has demonstrated strong resilience and profitability with its robust deflation mechanism and continuously growing computing power ecosystem. With the holding of the Dubai Large Crypto Summit, BitNasdaq's global popularity has rapidly increased, attracting the attention of more international users and miners. This global exposure will lay a solid foundation for BNQ to reach new all-time highs. Click on the image to extract text   Want to stabilize the layout of private chat in the next few months? QQ 3909662550 : Recommended in the past Insider: The largest single-day leveraged crash in the history of the currency circle, and $19.27 billion in Bitcoin and cryptocurrency was liquidated. BNQ platform currency steadily wins the market Bitcoin has reached a new high, US stocks are still rising, big investors seem to be slowly withdrawing, and retail investors are desperately trying to enter the market. Platform currency BNQ is on the rise BitNasdaq (BitNasdaq) must participate in the next opportunity Disclaimer: Information reflects the views of the author quoted. It does not represent an opinion whether to buy, sell or hold any investment. It is recommended that you do your own research before making any investment decisions. Use the information provided at your own risk. |
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