Technical analysis by SivaArjun about Symbol BTC: Buy recommendation (11/10/2025)

Crypto Market Rebounds on Shutdown Progress and Stimulus Hopes The cryptocurrency market surged 4.5% in the past 24 hours, fueled by optimism over a potential US government shutdown resolution and the president’s pledge to distribute $2,000 relief checks funded by tariff proceeds. The upbeat sentiment, combined with a recent 20% market correction, has triggered renewed buying interest among investors. Market Overview Bitcoin broke out of its $99K–$104K consolidation range, climbing above $106K, though it remains below both its 50-day and 200-day moving averages, where a potential death cross is forming — a sign of possible short-term pressure. In contrast, Ethereum (+5.8%) and XRP (+8%) outperformed, with ETH maintaining strength above its 200-day MA and aiming for the $4,000 target from its current level near $3,600. On-Chain and Institutional Insights After the early-October market drop, large holders reportedly sold 32,500 BTC, while retail investors bought the dip — historically a cautionary sign. Still, JPMorgan expects Bitcoin to climb toward $170,000 within 6–12 months, viewing the deleveraging phase as “largely complete.” Meanwhile, ARK Invest’s Cathie Wood adjusted her 2030 Bitcoin forecast from $1.5M to $1.2M, citing stablecoin adoption in emerging markets. According to AIMA and PwC, institutional participation continues to grow — 55% of hedge funds now hold crypto, up from 47% last year. Technical Outlook & Targets Bitcoin (BTC/USD): Support at $104K; resistance at $110K–$115K. Ethereum (ETH/USD): Bullish above $3,500; upside targets $4,000 → $4,300. 📊 Bias: Bullish short term; watch for confirmation above key moving averages.