Bitcoin (BTC) has recently recovered above the $103,000 mark, driven by a noticeable increase in spot market activity on the Binance exchange. This shift suggests a move away from the high-risk derivative trading that dominated the market earlier, following a series of liquidations.
Key Indicators of Spot Market Revival
- Price Recovery: After dipping briefly to the $100,000 range due to long liquidations, BTC recovered and was trading around $103,357 on Thursday, reflecting the market bounce.
- Binance Inflows (October): Binance saw a significant increase in BTC inflows from newly created wallets throughout October, setting the stage for increased spot activity. Specifically, over 25,900 BTC flowed into the exchange.
- Spot Volume Surge (November): Early November saw Binance's spot markets record a turnover of 50,500 BTC, the highest activity level since a crash on October 10th. This volume is well above the monthly average and has directly influenced the price recovery.
- Record Stablecoin Reserves: The exchange is holding massive reserves of stablecoins, including $41.7 billion in USDT and near all-time peak USDC reserves. This vast liquidity signals potential preparation for significant buying or trading activity.
Cautious Sentiment Persists
While the surge in spot volume indicates trader repositioning and potential new buying, the market remains guarded:
- Taker Sell Dominance: Despite the volume surge, data shows that taker sell orders were still dominant in early November. This reveals that the trading mode remains cautious, with traders primarily engaging in profit-taking as a precaution against a potential bear market.
- Neutral Levels: The current trading action does not yet suggest a clear bullish direction. The market is described as still operating at historically neutral levels, preventing large spot purchases by whales and stronger market breakouts for now.
The return of spot trading and stablecoin accumulation suggests liquidity is stored and ready, but the market is still in a "wait and see" mode for a decisive bullish signal.
November 2025, Cryptoniteuae