Bitcoin climbed above $106,000 in early Monday trading after a volatile weekend that forced leveraged traders to reposition. The move marks the third sharp swing in under 48 hours, driven by speculation over proposed economic stimulus and shifting liquidity on major exchanges. Exchange data shows 7-day realized volatility reached 0.410, significantly above the 30-day measure of 0.360, indicating rapid trader repositioning without fundamental trend changes.

Bitcoin climbed above $106,000 during European trading hours on November 10, 2025, rebounding from weekend volatility. The rally followed Federal Reserve signals on balance sheet adjustments and rising market expectations that the U.S. government shutdown may end soon, potentially triggering Treasury General Account drawdowns that would increase bank reserves.

Bitcoin rose above $105,000 on November 10 after President Trump announced a tariff-funded rebate initiative promising at least $2,000 to most Americans. Ethereum climbed 7% to $3,631, while Solana gained 6.08% to $167.36. Bitcoin spot ETFs recorded $252 million in net inflows on November 6, ending a six-day outflow streak, according to market data.

Bitcoin has mounted a recovery above the $103,500 support level after recent losses. The cryptocurrency climbed past $105,000 and tested resistance near $106,500, reaching a high of $106,593. BTC now trades above $104,000 and its 100-hour simple moving average, consolidating after breaking through a bearish trend line at $102,000.

Bitcoin has decoupled from global M2 liquidity trends since July, trading above $100,000 in November despite sitting 21% below its recent $126,000 peak. Analysts including Coinbase and BitMEX founder Arthur Hayes characterize the October 10 deleveraging event, which eliminated $20 billion in positions, as a healthy market reset rather than a cycle top. Options data show the market positioning for a $90,000 to $160,000 range over the next three to six months.

Bitcoin dropped below $100,000 on December 19, reaching an intraday low of $99,941 on OKX before recovering slightly. The cryptocurrency has declined more than 22% from its all-time high recorded earlier this month, entering correction territory. Betting platform Polymarket now assigns a 51% probability to BTC reaching $90,000 before year-end, up from 11% one month ago.

Shares of companies holding Bitcoin and Ether as treasury assets have declined sharply following recent cryptocurrency price drops. Strategy, formerly MicroStrategy, saw its market capitalization fall from approximately $128 billion in July to around $70 billion. Peter Thiel-backed firms BitMine and ETHZilla dropped over 30% and 23% respectively in the past month, according to market data.

Digital Asset Treasury Companies allocated $42.7 billion to cryptocurrency purchases in 2025, with $22.6 billion deployed in Q3 alone, data show. Bitcoin-focused entities accounted for $30.0 billion of total spending, while Ethereum treasuries spent $7.9 billion, according to CoinShares analysis.