Bitcoin News Today: Bitcoin's $110K Test: Miner Optimism vs. Macro Uncertainties

Bitcoin's recent price action has sparked a tug-of-war between optimism and caution, as the cryptocurrency's first significant October decline in nearly a decade raises questions about the resilience of its bull market. After closing October 2025 down 3.6%—the first monthly loss since 2018—Bitcoin (BTC) trades near $110,000, with analysts split on whether November could spark a rebound or deepen the slump, according to an Economic Times report. The drop followed a $19 billion wave of liquidations in leveraged markets and was exacerbated by geopolitical tensions, including President Donald Trump's 100% tariff on Chinese imports and the Federal Reserve's delayed rate cuts amid a government shutdown.

The sell-off has left Bitcoin's market cap at $2.17 trillion, a stark contrast to its $126,300 peak earlier in the year. However, some traders see a silver lining: the Economic Times piece noted that Bitcoin has historically averaged a 42% gain in November, its strongest month on record. "November could be the month of revenge for crypto," one analyst noted, though caution persists as macroeconomic uncertainties loom, the report added.

Meanwhile, miner activity offers a glimmer of hope. Bitcoin's price consolidation near $115,000 has stabilized miner reserves, easing forced selling driven by operational costs post-halving, according to a Crypto.news analysis. Improved hashprice metrics and rising on-chain fees have bolstered miner profitability, potentially setting the stage for a breakout above $120,000—a level that could reignite momentum toward $130,000, the piece observed. "Stronger miner economics could underpin the next leg higher," said analysts, though a drop below $110,000 risks triggering renewed capitulation.

Recent technical indicators also suggest a tentative recovery, according to a Cointelegraph roundup. Bitcoin reclaimed the 21-week exponential moving average (EMA) this week, pushing to $114,500 as short-term holders returned to profit. Trader Rekt Capital highlighted the 21-week EMA as a critical support level, while others warned of bearish divergences on the RSI and low volume, signaling potential head-and-shoulders reversal patterns. The cryptocurrency's ability to hold above $109,000 will be pivotal, with a likely US-China trade deal offering a potential catalyst for risk-on sentiment.

Despite these mixed signals, the broader market remains cautious. While ETF inflows have stabilized, macroeconomic headwinds—including Trump's protectionist policies and Fed inaction—continue to pressure risk assets, as noted by the Economic Times. For now, Bitcoin's path hinges on whether November's "revenge" narrative gains traction or if bearish fundamentals extend the downturn.