Bitcoin News Today: Bitcoin's $105k Barrier: Breakout or Bearish Trap?

Bitcoin's recent price action has drawn renewed attention as market participants debate whether the $85,000 level could serve as a critical support threshold amid a volatile post-shutdown landscape. The crypto market has shown tentative signs of recovery, with Bitcoin rebounding above $102,000 after dipping to weekly lows near $100,800 following the end of the 43-day U.S. government shutdown. The resolution of the shutdown, which left federal workers unpaid and stranded travelers at airports, has spurred a temporary shift in investor risk appetite, with policy-linked assets gaining traction.

The end of the shutdown has also reinvigorated regulatory activity, particularly in the crypto sector. Analysts note that the reopening of agencies like the SEC and CFTC has revived stalled ETF approvals and crypto-related rulemaking, potentially improving long-term regulatory clarity. This development aligns with broader institutional interest in Bitcoin, as evidenced by the performance of products like BlackRock's iShares Bitcoin Trust ETF (NASDAQ:IBIT), which holds over 796,000 BTC and has seen assets under management grow to $82 billion as of early November. Despite recent market turbulence, including a 19% decline from its October 7 peak, Bitcoin's market capitalization remains at $2.04 trillion, underscoring its dominance in the crypto ecosystem.

However, the path to recovery is not without challenges. Bitcoin's price has tested key technical levels, with recent data indicating a bearish structure as the asset struggles to break above $105,050, a critical resistance point. On-chain metrics suggest accumulation by long-term holders, including over $1.3 billion in recent Ethereum whale purchases, signaling underlying confidence despite short-term volatility. Still, 10x Research has noted that "Bitcoin and most crypto-linked assets are in a bear market," highlighting the fragility of current market conditions.

The U.S. mining sector, meanwhile, faces its own hurdles. While America's share of global mining hashrate edged up to 37.75% by Q4 2025, this growth has occurred without significant federal support, leaving domestic miners to compete against international operations with more aggressive government incentives. This dynamic contrasts with President Trump's campaign promises to ensure Bitcoin is "MADE IN THE USA," underscoring a gap between policy rhetoric and on-the-ground realities.

Globally, the Czech Central Bank's recent $1 million Bitcoin test portfolio has added another layer to the asset's institutional adoption narrative. While this move is more symbolic than strategic, it reflects a broader shift in central bank attitudes toward digital assets, even as traditional financial markets remain cautious.

Looking ahead, analysts remain divided. Some, like Delta Exchange's Riya Sehgal, argue that the current phase of caution could set the stage for a strong rebound in November, particularly if the Federal Reserve adopts a dovish stance in its December meeting. Others, including Giottus CEO Vikram Subburaj, urge investors to treat the market as a macro-led pause, advising caution until Bitcoin reclaims $105,000 with improved spot volume.