Bitcoin rose above $107,000 this week after dropping dangerously close to $98,000 just a few days ago. This correction shook the market and tested the nerves of even the strongest hands. However, from a technical perspective, the bullish structure remains intact. The higher time frame chart still supports the uptrend, but was uncomfortably close to a break.
For traders, this rebound feels like a sigh of relief. The bears appear to be exhausted and the market is slowly regaining confidence.
Individual trading and sentiment
I moved my stop loss to breakeven for a long time from $103,800. My target is $117,000, but that may change if price action starts to weaken.
Yesterday, I was on a boat with one of Thailand’s most iconic Bitcoin bulls, Didi Taihutu. Didi Taihutu famously sold everything in Bitcoin in 2017. His 100% belief is contagious. When I talk to people who have literally bet their lives on Bitcoin, I am reminded why there is still magic in this market.
Catalyst: Tariff dividends trigger market reactions
President Donald Trump’s new statement about a $400 billion “tariff dividend” has sent ripples across markets. The plan, which proposes direct cash payments of about $2,000 to most American adults, immediately sparked speculation about an influx of liquidity into risky assets, including cryptocurrencies.
Bitcoin’s reaction was swift. Within hours, BTC crossed $106,000 and hasn’t looked back since. Traders saw the announcement as a potential stimulus package. For consumers, more cash often means more liquidity in search of returns.
Although the legal and financial structure of the plan remains unclear, sentiment has been seriously shocked. Altcoins (such as ZEC) also joined in the rally, and trading volumes across exchanges soared.
Related: DEX trading volume surges to all-time highs.
ETF outflows and market resets
Bitcoin ETF outflows totaled $932 million last week, continuing a pattern from the previous week’s $946 million. These numbers reflect a decline in risk appetite since the October crash, when more than $19 billion in leveraged positions were wiped out.
Nevertheless, selling pressure appears to be easing. Institutional investor flows are stabilizing and spot demand is quietly rebuilding. Analysts say that even if the future rally slows, maintaining the $100,000 level could sustain a three-year bull market structure.
Analysts remain bullish at year-end
Wall Street’s outlook remains surprisingly optimistic. Fundstrat’s Tom Lee is still targeting Bitcoin between $150,000 and $200,000, while Galaxy Research conservatively predicts $120,000 by year-end. Cathie Wood of Ark Investments He lowered his 2030 target from $1.5 million to $1.2 million, noting Bitcoin’s increasing role as a macro asset in a maturing ecosystem.
What’s the consensus? October’s wipeout likely marked a mid-cycle reset rather than the end of a bull market. If Bitcoin can finish November strong, it will ideally be able to set a new price. All-time high before Thanksgiving — This momentum could continue into the first quarter of 2026.
Technical outlook: still in bullish territory
From a chart perspective, Bitcoin continues to hold an important support zone around $99,200. A close of the day above $107,000 would confirm new momentum, but a break above $110,000 could begin a rally toward my personal goal of $117,000.
The RSI has reset from its overbought levels and funding rates have normalized, suggesting the market has cooled enough for a sustained rally. The bulls just need to protect that $100,000 line a little more.
Why this recovery matters
Confidence is everything in cryptocurrencies. The past month has put that belief system to the test. Between ETF outflows, geopolitical tensions, and the macro roller coaster, fear has nearly reversed the narrative. However, BTC has recovered, sentiment has changed, and analysts are once again revising their forecasts upward.
This is a reminder that volatility goes both ways. When liquidity returns, Bitcoin tends to move fast, and traders who survive the shakeout are often rewarded.
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Final thoughts: Hold the line, Bulls.
Bitcoin’s rise from $98,000 to $107,000 may seem modest in percentage terms, but it’s a huge psychological victory. The bears have been unable to break out of the structure, and the bulls are regaining control.
My position remains open. Long from $103,000, stop at breakeven, target $117,000. the goal? New high before Thanksgiving.
If that happens, the market narrative could completely reverse, and the year-end selloff could be even steeper.
If you enjoyed this blog, check out our guide to risk management.
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