Bitcoin News Today: Perfect Storm and Whale Buys Send Bitcoin Toward $145K

Bitcoin's price surged past $116,500 in early November, sparking renewed optimism among investors and analysts who see the cryptocurrency on track for a potential $130,000 and $145,000 rally before year-end. The move follows a confluence of macroeconomic catalysts, technical strength, and on-chain activity that has positioned Bitcoin as a focal point of the crypto market's next phase.

The rally coincided with a shift in global financial conditions, including the unwinding of quantitative tightening (QT) and anticipation of U.S. Federal Reserve rate cuts. These factors, combined with a $1.5 trillion liquidity injection into U.S. markets and improved U.S.-China relations, have created a "perfect storm" for risk assets, according to a CoinPedia analysis. On-chain data further reinforced bullish sentiment, showing increased accumulation by short-term holders and a resurgence in Bitcoin ETF inflows after weeks of outflows, the CoinPedia write-up noted.

Technically, Bitcoin's retest of the 200-day exponential moving average (EMA) at $115,196 has reignited momentum. Traders noted parallels to the Q2 2025 breakout, which preceded a sharp rally, and the current price action has pushed BTC above key support zones, with analysts targeting $124,500 as the next resistance level if volume sustains above $117,000, according to an AMBCrypto report. Short liquidations have also played a role, with $164 million in positions liquidated in the past 24 hours, CoinGlass data showed.

Whale activity has added another layer of intrigue. Despite a recent liquidation event on October 10 that wiped $19.35 billion from the market, large holders absorbed much of the selling pressure, stabilizing prices above the psychological $100,000 level, analysts observed. Analyst CrypNuevo highlighted the potential for Bitcoin to revisit pre-crash levels, identifying liquidity clusters at $121,000 as a key target in a Yahoo Finance piece. His roadmap includes navigating the "CME gap" at $107,000 and hedging long positions to capitalize on a possible retracement.

Corporate demand for Bitcoin also surged over the weekend, with institutions like Strategy and American Corporation adding to their reserves. Strategy's acquisition of 390 BTC ($43.4 million) and American Corporation's 1,414 BTC purchase underscored growing institutional confidence, as Yahoo Finance reported. Meanwhile, Ethereum broke out of a $4,200 resistance zone, aligning with Bitcoin's leadership in the broader crypto market, per the same Yahoo Finance coverage.

The path forward remains contingent on sustaining volume above $117,000 and resolving the CME gap. If successful, the market could see a broader rally, with altcoins already showing a 3.86% gain since October 25, AMBCrypto noted. However, analysts caution that volatility remains a risk, particularly with macroeconomic data and geopolitical developments still in flux.