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- Several key events are shaping the week, including Bitcoin climbing past $106,000 ahead of upcoming CPI and jobless claims data.
- Investor sentiment has also improved as the U.S. shutdown nears resolution, while Donald Trump proposes a $2,000 tariff “dividend” for Americans.
As noted in our earlier publication, Bitcoin (BTC) has surged to around $106,000 for the first time in nearly a week, recovering from multiple dips below $100,000 and currently trading at $106,266.
Above this level, Bitcoin faces a cluster of resistance zones between $108,000 and $112,000, while failure to sustain its current price could trigger a retest toward the $103,000–$104,900 support area.
With these technical levels in focus and positive sentiment returning to the market, this week looks particularly promising for Bitcoin.
U.S. Shutdown Resolution
BTC’s surge coincides with growing optimism over a potential resolution to the U.S. government shutdown, which began on October 1 and has now stretched into its 41st day, making it the second-longest in U.S. history.
Investor sentiment was lifted after the U.S. Senate voted 60-40 to pass a bipartisan funding package. If the bill clears both the Senate and House and is signed into law by the President, the shutdown will officially end, a development that has bolstered confidence in risk assets.
Also, a resolution would reduce macroeconomic drag and reopen key channels for economic data and liquidity. A case in point: Ash Crypto noted that,
The last time the U.S. government reopened after a shutdown, Bitcoin made a five-month rally, surging by over 300%.
Inflation Data
With the government shutdown disrupting many official releases and slowing the SEC’s approval of altcoin ETFs, the upcoming inflation and jobs data have taken on added significance. The October Consumer Price Index (CPI) is expected on Thursday, accompanied by initial jobless claims, followed by the Producer Price Index (PPI) the next day.
Persistent inflation above the Fed’s 2% target would maintain restrictive monetary policy, delaying aggressive rate cuts. Adding to market focus, Federal Reserve officials are scheduled to speak this week, with Fed Governor Michael Barr on Tuesday and Boston Fed President Susan Collins on Wednesday, offering potential insight into future policy directions.
Tariff “dividends”
On Sunday, Donald Trump announced that most Americans would receive a “tariff dividend” of at least $2,000 per person, excluding high‑income earners, funded by revenue collected from tariffs. The money would come from the tariffs his administration has imposed, which he claimed bring in “trillions of dollars.”
The tariffs collected so far in 2025, $195 billion, may fall short of what would be needed to fund $2,000 payments to all eligible Americans.
Sumit Kapoor highlighted on X that, with Trump’s pro-crypto government, even if just 20% of that capital flows into crypto, it could inject $125 billion in fresh liquidity, potentially boosting the total crypto market capitalization by $2.5 trillion to $3 trillion.
Options and Derivatives Market
The cryptocurrency derivatives market has seen notable activity recently. Open interest currently stands at $147.10 billion, reflecting a 1.59% increase, while liquidations, the total value of leveraged positions automatically closed due to margin losses, have surged 37.11% to $340.30 million.
Bitcoin’s derivatives trading volume has jumped 54.78% to $98.09 billion, with total open interest across derivatives rising 1.31% to $68.88 billion.
In the options segment, trading volume has experienced a substantial 191.53% increase, reaching $5.35 billion, while options open interest has grown 1.76% to $53.58 billion, highlighting strong market engagement and heightened volatility in BTC derivatives.
Whales Still Active
Throughout 2025, long-term Bitcoin whales have been gradually reducing their BTC exposure, averaging the sale of over 1,000 BTC per day.
According to CryptoQuant’s “Quicktake” blog, executing large-scale BTC sales is far easier today than in previous market cycles due to the cryptocurrency’s expanded market capitalization, growing institutional participation, the availability of ETFs, and involvement from major entities, including governments.
After a strong performance in August, whale holdings plunged dramatically from 398,000 BTC to 185,000 BTC in October, a period that coincided with Bitcoin surging past $123,000
However, the trend reversed in November, with accumulation resuming and whale reserves rising to 294,000 BTC as of November 7. This signals confidence among large holders and suggests that, despite recent selling, investors still see upside potential in Bitcoin.
