Bitcoin prices have been hovering around $105,000 recently and are showing signs of consolidating, with attention focused on a possible bullish trend. Bitcoin remains in the spotlight despite the overall crypto market dropping 1.45% in the past 24 hours. This follows a 5.86% decline over the past month, although the previous day saw a resurgence in prices. Investors are particularly looking forward to the release of the draft Cryptocurrency Market Structure Bill, which could have an impact on the direction of the market.
Meanwhile, the US Senate’s approval of a funding bill to prevent a government shutdown could spark increased interest in the crypto sector, sparking optimism. On the other hand, other cryptocurrencies such as Ethereum (ETH) and Solana (SOL) Dogecoin, Shiba Inu, Cardanois trading in an almost flat trend.
Cryptocurrency Market Review: Senate Bill Announced Today
long-awaited draft Draft Cryptocurrency Market Structure Bill Published by the U.S. Senate Agriculture Committee. This law will revolutionize the regulation of cryptocurrencies, specifically Bitcoin, in the United States and aims to create more transparent regulations for the market.
The bill, sponsored by Chairman John Boozman (R-Ark.) and Ranking Member Cory Booker (D-N.J.), seeks to subject digital products, including Bitcoin, to regulation by the Commodity Futures Trading Commission (CFTC). Conversely, the Securities and Exchange Commission (SEC) plans to regulate digital assets that are considered securities.
The proposed amendments to the Commodity Exchange Act will help provide a higher level of transparency and regulatory predictability to digital asset markets. This change is believed to pave the way for more systematic and secure cryptocurrency trading. Lawmakers have high hopes that the bill will become law by the end of the year, and if it does, it would represent a major shift in policy toward cryptocurrencies.
🚨HUGE: 🇺🇸 A Senate committee has finally released the long-awaited draft of the Cryptocurrency Market Structure Bill.
The bill would overhaul that method. #bitcoin and virtual currencies are regulated, and regulations are expected to be passed by the end of the year. pic.twitter.com/scVzfq4Rld
— Coin Bureau (@coinbureau) November 11, 2025
Will Bitcoin price head towards $110,000?
BTC price traded at $105,086, a slight decrease of 0.29%. The cryptocurrency has been fluctuating around key price levels, including resistance at $107,500 and a strong support zone at $105,000.
The Chaikin Money Flow (CMF) indicator is at the current level of 0.11, indicating a moderate level of buying pressure, but not extreme buying pressure.
The MACD (Moving Average Convergence Divergence) is still in the positive spot and the MACD line is above the signal line. This suggests the possibility of further increases.
Bitcoin price may encounter resistance near $107,500, which creates a psychological barrier. A breakout above this could be an entryway to Bitcoin price’s next target of $110,000. Detailed Bitcoin Price Analysis Still optimistic.
On the downside, the $102,000 support level is important. This is because failure to break below the price indicates further weakness.
In summary, the announcement of the draft Cryptocurrency Market Structure Bill and the US government’s actions to avoid a shutdown could bring positive benefits to the crypto market. With more open rules and new hope, Bitcoin’s future is expected to record significant improvements in the coming days.