SKN | Bitcoin Rebounds to $109,000 as Traders Position for a November Recovery

After a lackluster October that fell short of bullish expectations, Bitcoin has reclaimed momentum, rebounding above $109,000 as of November 1. Market participants are interpreting the move as a potential setup for a November rally, with renewed risk appetite visible across both derivatives and spot markets. The recovery underscores Bitcoin’s resilience amid shifting macroeconomic conditions and persistent investor debate over the sustainability of its 2025 rally.

Crypto Markets: Momentum Returns After “Uptober” Fades

October—often dubbed “Uptober” by traders for its historical record of gains—failed to deliver in 2025. Bitcoin slipped nearly 7% during the month, weighed down by waning liquidity and profit-taking after its late-summer surge above $115,000. Yet within days of the calendar turning, BTC posted a sharp 3.8% intraday recovery, pushing the asset back above $109,000.

Ethereum mirrored the move, rising 2.5% to trade near $7,500, while Solana (SOL) and Avalanche (AVAX) both logged gains above 4% in the past 24 hours. Total crypto market capitalization rose to $4.25 trillion, according to CoinMarketCap, recovering roughly $80 billion in value since the start of the week.

Derivatives and Liquidity Indicators Strengthen

Futures open interest on major exchanges including CME and Binance climbed 6% overnight, reflecting increased speculative positioning ahead of expected U.S. inflation data and a batch of corporate earnings reports that could influence macro sentiment. Funding rates turned modestly positive after two weeks in neutral territory, signaling a mild bias toward long positioning.

On-chain data from Glassnode shows exchange reserves falling by roughly 15,000 BTC over the past seven days—a potential indicator of accumulation by long-term holders. Analysts view the combination of tightening supply and renewed derivatives activity as a sign of market stabilization following October’s drift.

Investor Psychology: Guarded Optimism Returns

Traders remain cautious but increasingly constructive. Social sentiment metrics from LunarCrush show a 5% uptick in bullish mentions of Bitcoin week-over-week, while fear-and-greed indexes have shifted from 47 (“neutral”) to 56 (“greed”), suggesting a mild return of confidence.

Veteran traders warn, however, that a strong November is not guaranteed. “The rebound is technically encouraging but not yet decisive,” said one Singapore-based digital-asset fund manager. “We’re seeing the start of rotation trades and short-covering—what matters now is whether spot demand sustains above $108,000.”

Forward Outlook: The Stakes for November

If momentum continues, analysts expect Bitcoin could retest resistance around $112,000–$115,000 before year-end. Key catalysts include macro inflation prints, Federal Reserve policy commentary, and institutional flows into the newly launched Bitcoin ETFs. A break above $115,000 would likely shift sentiment decisively bullish, while failure to hold current levels could invite renewed selling pressure.

For investors, the rebound illustrates Bitcoin’s dual nature—volatile yet structurally durable. While November opens with optimism, the month ahead will test whether crypto markets can convert speculative enthusiasm into sustained price strength, bridging the gap between narrative and performance in the digital-asset cycle.