Hope for Bitcoin in November: The $110,000 Level is Targeted Again

The price of Bitcoin retested the $110,000 level thanks to the easing of trade relations between the U.S. and China. Experts state that this situation has revived global risk appetite and created a positive atmosphere in the cryptocurrency markets.

On the morning of October 31, Bitcoin was trading in the $109,600–$110,200 range, recovering losses that had dropped to $107,000 during the day. This recovery came right after the volatile session following U.S. Federal Reserve Chairman Jerome Powell's statement that a rate cut in December was “not guaranteed.” Capital.com analyst Kyle Rodda pointed out that investors shifted their focus from the “hawkish tone of the Fed messages” to the U.S.-China trade easing.

Ethereum is trading around $3,900, while among other altcoins, BNB is priced just below $1,100, and Solana is trading below $190. The total market capitalization of the cryptocurrency sector is moving at around $3.76 trillion.

Analysts indicate that the "macro gap" caused by the cessation of data flow in the U.S. has been filled by diplomacy. In South Korea, U.S. President Donald Trump and Chinese President Xi Jinping announced new commitments regarding the reduction of tariffs and trade issues. BRN Research President Timothy Misir stated that these agreements are a “signal that instills confidence in the markets.”

However, the postponement of GDP reports and other economic data due to the U.S. government shutdown is making it difficult for investors to find direction. Experts note that this uncertainty is also reflected in cryptocurrency exchange-traded fund (ETF) outflows. For example, U.S.-based spot Bitcoin ETFs recorded a net outflow of $488 million, while Ethereum ETFs saw an outflow of $184 million. However, Solana ETFs reversed this trend with an inflow of $37.3 million, and Bitwise's BSOL fund has seen continuous inflows for three days.

According to data provided by CoinGlass, October 2025 is on track to be the weakest October for Bitcoin in the last 10 years. Nevertheless, Paul Howard, Director of Wincent, offered an encouraging outlook for the long-term perspective, stating, “The Bitcoin price could hold in the $110,000–$120,000 range after a Fed cut.”