Bitcoin has experienced a technical bounce following a 1,300% increase in selling activity by short-term holders. Despite liquidations exceeding $1 billion, the cryptocurrency managed to recover from approximately $100,000 to $103,000, now observing ranges between $105,000 and $107,880 as key support levels.
A daily close above $105,500 would open the way toward technical targets located at $109,700 and potentially $111,000, driven by possible “liquidity grabs” that force the liquidation of leveraged positions. Technical indicators show signs of selling exhaustion, with the RSI recovering from near-oversold levels and a possible hidden bullish divergence. Additionally, a bullish crossover of the 20- and 50-day exponential moving averages suggests that 5% corrections have preceded rebounds in similar contexts.
Large holders added more than 26,000 BTC (approximately $2.7 billion) between November 6 and 10, while net flows from exchanges have moderated, easing selling pressure. Ongoing inflows to spot ETFs and a “dry powder” ratio at pre-bull-cycle levels indicate sustained institutional demand.
Technical indicators and market dynamics
On-chain metrics show a reduction of supply in the hands of long-term holders, an increase in addresses with more than 1,000 BTC and an expansion of hash rate, reinforcing the fundamental support thesis. This resilience suggests that Bitcoin could be preparing for a broader recovery, relevant information for traders, institutional treasuries and fund managers.
The combination of technical signals, accumulation by large portfolios, and institutional flows suggests a higher probability of a short-term technical rebound if the $105,500 threshold is exceeded. This scenario would be accompanied by an increase in liquidity in higher zones, which could favor breakout and liquidity capture strategies.
However, there is a risk of high volatility if there is a reversal from levels between $107,880 and $111,000 due to profit-taking. On-chain metrics reinforce the fundamental support thesis by indicating a reduction in supply held by long-term holders, an increase in addresses with more than 1,000 BTC, and an expansion of the hash rate.
The next operational milestone is a daily close above $105,500 and the weekly reading of ETF flows, both determinants to confirm whether the bounce translates into a sustained recovery or remains a technical counter-move.
