Bitcoin is trading around $106,700 as Nasdaq and Cboe prepare to launch regulated spot and leveraged cryptocurrency trading next month, according to the U.S. Commodity Futures Trading Commission. The development is expected to enhance liquidity and attract institutional participation. Analysts project potential upside toward $111,000, supported by improving market fundamentals and easing fiscal uncertainty.

Bitcoin traded near $106,000 on Monday as investors responded to expectations that the US government shutdown may soon conclude. The cryptocurrency recovered from early session losses, while broader risk assets also advanced. Ending the shutdown could release $150 billion to $200 billion from the Treasury General Account into bank reserves, historically supportive of cryptocurrencies, according to Arca. However, the 39-day shutdown has stalled critical digital asset legislation including the CLARITY Act and the Senate's market structure bill.

Strive Asset Management purchased 1,567 BTC for approximately $162 million, bringing its total holdings to 7,525 BTC. The acquisition positions Strive ahead of Galaxy Digital, which holds 6,894 BTC, according to BitcoinTreasuries.net. The purchase was funded through a perpetual preferred stock IPO priced at $80 per share.

Bitcoin's Exchange Supply Ratio on Binance has climbed to 0.0286, its highest level since September, while the cryptocurrency trades above $103,000. On-chain data show the Market Value to Realized Value ratio rose 4.35% to 1.8945, and the NVT Golden Cross surged 44.89% to -0.3245. The indicators point to strengthening network fundamentals and returning investor confidence.

Strategy purchased 487 Bitcoin for approximately $49.9 million between November 3 and November 9, at an average price of $102,557 per coin, according to an SEC filing. The acquisition brings the company's total holdings to 641,692 BTC, valued at over $65 billion at current prices. Veteran short seller Jim Chanos closed his 11-month short position on Strategy after the stock's multiple to net asset value compressed from 2.5 to 1.23.

BlackRock iShares Bitcoin Trust recorded $570 million in net outflows for the week ending November 10, 2025, marking the highest weekly redemption in nine months. The withdrawals began October 29 and represent the largest weekly outflow since approximately February 2025, data show. CryptoQuant CEO Ki Young Ju noted the outflows have prompted discussion within the Bitcoin investment community regarding potential causes.

Rift has introduced a peer-to-peer trading protocol for bitcoin-to-EVM swaps that operates through trusted execution environments. The system charges 10 basis points in taker fees with zero maker fees, positioning itself as a capital-efficient alternative to existing cross-chain solutions. CEO Samee Siddiqui says the platform targets API integration with existing wallets rather than consumer-facing interfaces.

Large Bitcoin holders are selling direct cryptocurrency positions to gain exposure through exchange-traded funds, according to Dr. Martin Hiesboeck of Uphold on November 9. The shift offers tax advantages under U.S. regulations and provides a mechanism to legitimize previously undisclosed holdings. Long-dormant wallets have transferred billions in recent months as institutional inflows into spot Bitcoin ETFs accelerate market distribution.