Key Notes
- Bitcoin price is currently near $105,000, just below a major resistance zone.
- The rise in spot trading volume suggests renewed trader activity.
- Analysts predict a potential short-term bounce if $104,000 support holds.
Bitcoin BTC $103 204 24h volatility: 2.4% Market cap: $2.06 T Vol. 24h: $72.04 B continues to consolidate below the $107,000–$108,000 key resistance zone, slipping about 1% in the past 24 hours. BTC is currently trading around $105,000, with strong support expected near $104,000.
Despite the mild decline, spot trading volume has surged 23% over the past week, jumping from $11.5 billion to over $14 billion. Analysts believe this rise in volume suggests renewed speculative interest and buyer re-engagement amid Bitcoin’s brief rebound to $106,000.
Popular crypto trader Ted pointed out that Bitcoin’s current setup closely aligns with a CME gap near the $104,000 mark. He also noted that Bitcoin often forms short-term bottoms on Tuesdays.
With Nov. 11 falling on a Tuesday, traders could see a near-term gap fill and subsequent Bitcoin price bounce.
$BTC got rejected from the $107,000-$108,000 resistance level.
The next key support for Bitcoin is around $104,000 which also has a CME gap.
Usually, Bitcoin bottoms on Tuesday, which means we could see a CME gap fill followed by a bounce. pic.twitter.com/Te723iLosx
— Ted (@TedPillows) November 11, 2025
Analyst Kamran Ashgar also suggests that Bitcoin is set for a major breakout. He predicted that if the $104,000 support remains intact, the cryptocurrency could see a rally back toward $110,000.
$BTC is Reloading! Breakout confirmed.
Getting the perfect dip back to $104K. If this support holds, we send it to $111K. pic.twitter.com/nARVNFNGIO
— 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 (@Karman_1s) November 11, 2025
Whale Activity Signals Repositioning
Meanwhile, the Exchange Whale Ratio (EWR), which tracks the share of large-wallet inflows to exchanges, has climbed from 0.35 to 0.55 over recent weeks. Rising EWR levels indicate that major holders are either preparing to take profits or repositioning during early recovery stages.
In this case, the EWR uptrend comes along with Bitcoin’s bounce from $100,000 , which suggests that large investors may have accumulated during recent dips.
Bitcoin exchange whale ratio | Source: CryptoQuant
According to a CryptoQuant analyst, this renewed whale movement often marks the start of a bullish reversal in the weeks ahead.
Miner Behavior Hints at Supply Relief
Meanwhile, miner outflows have been steadily declining throughout November after several spikes in late October. This suggests that miners are holding onto their Bitcoin, reducing short-term selling pressure.
Historically, such phases have led to accumulation or recovery periods, as fewer coins flow into exchanges. Current outflows are significantly below April–June 2025 levels when miners sold heavily during rallies.
With BTC trading near $105K, this miner restraint indicates a neutral-to-bullish short-term outlook, especially if stablecoin exchange inflows continue.
