bullish

Bitcoin

when

Optimism

Key takeaways:<ul><li>Bitcoin spot demand has flipped positive, signaling a potential bullish reversal.</li><li>Increasing spot volume suggests higher speculative activity.&nbsp;</li><li>BTC price must reclaim $110,000 as support to secure the recovery.</li></ul> Demand for Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) has shown signs of recovery, signaling a possible bullish reversal. Still, traders say momentum will increase once the BTC/USD pair breaks above $110,000.&nbsp;<h2 id="bitcoin-apparent-demand-hits-a-four-month-high">Bitcoin apparent demand hits a four-month high</h2>Bitcoin’s apparent demand has shifted to a positive outlook after rising to its highest level since July, as traders and investors adopt a risk-on approach due to improving macroeconomic conditions.Capriole Investment’s Bitcoin Apparent Demand metric is a commodity metric that gauges demand, measuring production (mining issuance) minus inventory (supply inactive for over one year).&nbsp;This demand had increased sharply to 5,251 BTC on Nov. 11, levels last seen on July 31.Related: <a href="https://cointelegraph.com/news/bitcoin-s-next-move-could-shock-traders-if-btc-price-breaks-above-112k" rel="noopener noreferrer nofollow">Bitcoin’s next move could shock traders if BTC price breaks above $112K</a>Bitcoin's apparent demand has been negative since Oct. 8, bottoming around -3,930 BTC on Oct. 21, before reversing sharply as shown in the chart below.<figure><img src="https://s3.cointelegraph.com/uploads/2025-11/019a71ec-5adf-7bfc-91d8-9b7bc21a3bf4" title="" alt="Bitcoin signals bullish reversal as ‘apparent demand’ hits four-month highs"><figcaption style="text-align: center;">Bitcoin apparent demand. Source: Capriole Investments.</figcaption></figure>Meanwhile, spot trading volume has increased by 23% to $14.1 billion from $11.5 billion over the last week, suggesting increased speculative activity.The increase suggests that <a href="https://cointelegraph.com/news/bitcoin-price-eyes-112k-liquidity-us-government-shutdown-nears-end" rel="noopener noreferrer nofollow">Bitcoin’s recent recovery to $106,000</a> was “an early sign of buyer re-engagement,” Glassnode <a href="https://www.papermark.com/view/cmhtfjzda0001l5049qd0igy2" rel="noopener noreferrer nofollow">wrote</a> in its latest Weekly Market Impulse report, adding:<blockquote> “The rise in spot volume suggests stronger investor participation and a potential for a breakout move.”
</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-11/019a71ec-61da-7045-bbdf-faa1fa0386e8" title="" alt="Bitcoin signals bullish reversal as ‘apparent demand’ hits four-month highs"><figcaption style="text-align: center;">Bitcoin spot volume. Source: Glassnode</figcaption></figure>Optimism around the <a href="https://cointelegraph.com/news/us-senate-reopen-government-crypto-bill-limbo" rel="noopener noreferrer nofollow">end of the US government shutdown</a> and Trump’s promise of <a href="https://cointelegraph.com/news/trump-2000-tariff-dividend-affect-crypto?utm_source=rss_feed&amp;amp;utm_medium=rss&amp;amp;utm_campaign=rss_partner_inbound" rel="noopener noreferrer nofollow">$2,000 tariff dividend payments</a>, coupled with the Fed’s expected December rate cut and upcoming quantitative easing, are <a href="https://cointelegraph.com/news/hopes-us-govt-shutdown-end-institutional-buying-etf-hopes" rel="noopener noreferrer nofollow">causing investors to scale back into risk assets</a>.&nbsp;<h2 id="bitcoin-price-must-reclaim-110-000">Bitcoin price must reclaim $110,000</h2><a href="https://cointelegraph.com/news/bitcoin-etfs-snap-6-day-outflow-streak-key-trendline-back-focus" rel="noopener noreferrer nofollow">Bitcoin’s bullish weekly close</a> above the 50-week simple moving average has convinced traders of its ability to move higher from current levels.&nbsp;Bitcoin’s bullish case now hinges on bulls reclaiming $110,000 as support, according to Swissblock.“After defending the critical zone, BTC’s next move is all about consolidation and confirmation,” the private wealth manager <a href="https://x.com/swissblock__/status/1982794414025015321" rel="noopener noreferrer nofollow">said</a> in a Monday X post.Swissblock said that since the price is still holding the macro structure, momentum will start igniting once bulls “reclaim $108K–$110K pivot zone,” adding:<blockquote> “Selling pressure is easing, and $BTC is giving early signals of a bullish reversal.”
</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-11/019a71ec-6608-7624-8f6b-30363abed424" title="" alt="Bitcoin signals bullish reversal as ‘apparent demand’ hits four-month highs"><figcaption style="text-align: center;">BTC/USD price chart. Source: Swissblock</figcaption></figure>MN Capital founder Michael van de Poppe said Bitcoin will likely rally toward its <a href="https://cointelegraph.com/news/Key%20takeaways:%20Bitcoin%20price%20deviated%2017%%20from%20its%20all-time%20high%20on%20Tuesday,%20dropping%20to%20%24104,000.%20Overleveraged%20crypto%20traders%20were%20liquidated%20out%20of%20nearly%20%241.3%20billion%20in%20the%20past%2024%20hours.%20Traders%20say%20Bitcoin%20needs%20to%20quickly%20reclaim%20%24105,000%20to%20avoid%20a%20deeper%20correction%20toward%20%24100,000.%20%20%20Bitcoin%20bears%20extended%20the%20sell-side%20activity%20into%20the%20European%20Trading%20session%20on%20Tuesday%20as%20the%20drop%20to%20%24104,550%20resulted%20in%20a%20large%20liquidation%20of%20leveraged%20positions%20across%20the%20crypto%20market.%20%20BTC/USD%20daily%20chart.%20Source:%20Cointelegraph/TradingView%20Bitcoin%20wipes%20out%20liquidity%20in%20tumble%20to%20%24104,000%20BTC%20price%20fell%20as%20low%20as%20%24104,130%20on%20Tuesday,%20reversing%20Sunday%E2%80%99s%20spike%20to%20%24111,000%20as%20derivatives%20traders%20adopted%20a%20risk-off%20stance.%20This%20extended%20the%20deviation%20from%20the%20Oct.%206%20all-time%20high%20of%20%24126,000%20to%2017%%20and%20was%20accompanied%20by%20massive%20liquidations%20across%20the%20derivatives%20market.%20Related:%20Retail%20investors%20'retreat%E2%80%99%20to%20%2498.5K:%205%20things%20to%20know%20in%20Bitcoin%20this%20week%20More%20than%20%241.19%20billion%20in%20long%20positions%20were%20liquidated,%20with%20Bitcoin%20accounting%20for%20%24359.5%20million%20of%20that%20total.%20Ether%20(ETH)%20followed%20with%20%24155%20million%20in%20short%20liquidations.%20Across%20the%20board,%20a%20total%20of%20%241.33%20billion%20was%20wiped%20out%20of%20the%20market%20in%20short%20and%20long%20positions,%20as%20shown%20in%20the%20figure%20below.%20%20Crypto%20liquidations%20(screenshot).%20Source:%20CoinGlass%20Large%20clusters%20of%20long%20liquidations%20can%20signal%20capitulation%20and%20potential%20short-term%20bottoms,%20while%20heavy%20short%20wipeouts%20may%20precede%20local%20tops%20as%20momentum%20flips.%20%20The%20single%20biggest%20liquidation%20occurred%20on%20HTX,%20where%20a%20%2447.87%20million%20BTC-USDT%20long%20was%20closed%20out.%20Additional%20data%20from%20CoinGlass%20showed%20a%204%%20drop%20in%20Bitcoin%E2%80%99s%20futures%20open%20interest%20(OI)%20over%20the%20last%2024%20hours%20across%20all%20exchanges.%20The%20decline%20was%20more%20pronounced%20on%20the%20Chicago%20Mercantile%20Exchange,%20whose%20Bitcoin%20OI%20has%20fallen%20by%209%%20over%20the%20last%2024%20hours.%20%20https://x.com/coinglass_com/status/1985609384588951645%20%20Still,%20with%20open%20interest%20remaining%20above%20%2467%20billion%20and%20funding%20rates%20easing%20only%20slightly,%20traders%20appear%20wary%20of%20further%20price%20drops.%20%24100,000%20is%20now%20Bitcoin%E2%80%99s%20last%20line%20of%20defence%20BTC%E2%80%99s%20swept%20lows%20below%20%24105,000,%20leaving%20questions%20among%20traders%20about%20where%20Bitcoin%20is%20likely%20to%20find%20support.%20%E2%80%9CAfter%20a%20bunch%20of%20attempts,%20bears%20have%20finally%20forced%20their%20#Bitcoin%20breakdown,%E2%80%9D%20said%20popular%20trader%20Jelle%20in%20a%20Tuesday%20post%20on%20X.%20%20According%20to%20Jelle,%20Bitcoin%20was%20required%20to%20reclaim%20the%20%24105,000-%24107,000%20zone%20to%20avoid%20a%20deeper%20correction%20toward%20%24100,000.%20%20%E2%80%9CThe%20next%20area%20of%20support%20is%20%24100K.%E2%80%9D%20%20BTC/USD%20daily%20chart.%20Source:%20Jelle%20Bitcoin%20trader%20AlphaBTC%20said%20a%20daily%20candlestick%20close%20below%20yesterday%E2%80%99s%20low%20around%20%24105,300,%20%20could%20trigger%20a%20fresh%20downward%20leg%20below%20the%20%24100,000%20psychological%20level.%20https://x.com/mark_cullen/status/1985562767743660084%20%20As%20Cointelegraph%20reported,%20bulls%20are%20expected%20to%20aggressively%20defend%20the%20%24100,000%20level,%20as%20a%20break%20below%20it%20may%20plunge%20Bitcoin%20into%20a%20new%20downtrend." rel="noopener noreferrer nofollow">all-time high of $126,000</a> if it breaks through $110,000.&nbsp;<blockquote class="twitter-tweet">Crucial resistance coming up for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>. The government shutdown is nearly over, which would be an ideal signal for the markets to turn back into bull mode. To be honest, if <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> breaks through $110K, we'll likely see a rally towards the ATH. I do expect <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoins</a> to… <a href="https://t.co/5j0UEAkq3S" rel="noopener noreferrer nofollow">pic.twitter.com/5j0UEAkq3S</a>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1987796116545368315?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 10, 2025</a></blockquote>Fellow analyst Jelle <a href="https://x.com/CryptoJelleNL/status/1987797061350142053?s=20" rel="noopener noreferrer nofollow">said</a> reclaiming the $110,000 support level is “very important as rejecting here would be a clear sign of further weakness in the market.”As <a href="https://cointelegraph.com/news/bitcoin-double-bottom-eyes-dollar110k-but-cme-gap-may-postpone-rally" rel="noopener noreferrer nofollow">Cointelegraph reported</a>, Bitcoin’s double bottom pattern may boost bullish momentum toward $110,000, but the BTC/USD pair could first see a short-term retracement to fill the CME gap near $104,000.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin signals bullish reversal as ‘apparent demand’ hits four-month highs

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