Bitcoin’s Bullish Momentum: Surging Past $115K and Eyeing $120K
Bitcoin has once again demonstrated its market dominance by breaking through the critical $115,000 resistance level, showcasing its resilience and upward momentum. Currently trading between $114,300 and $115,500, the cryptocurrency has rebounded strongly from its 200-day moving average near $108,000. This recovery has reignited bullish sentiment, with traders now setting their sights on the $120,000 mark. The latest surge underscores Bitcoin's ability to thrive even amid cautious market conditions, solidifying its position as the leading digital asset. As of November 8, 2025, the cryptocurrency continues to attract investors with its strong performance and promising outlook.
Bitcoin Surges Past $115,000 as Bulls Eye the $120K Mark
Bitcoin has once again proven its dominance in the cryptocurrency market, breaking through the critical $115,000 resistance level with ease. This MOVE underscores Bitcoin’s remarkable resilience and ability to maintain upward momentum even amid market caution.
After rebounding from its 200-day moving average near $108,000, Bitcoin has shown exceptional strength, currently trading between $114,300 and $115,500. This recovery reinforces the importance of the $108,000–$115,000 range, which has historically acted as a strong support zone during mid-term corrections.
Traders are closely watching the next major resistance near $116,000, where significant liquidity clusters and short-term sell orders begin to accumulate. Analysts warn that this zone could trigger temporary pullbacks or profit-taking before bitcoin resumes its broader bullish trajectory.
The overall market structure remains strongly bullish. The Relative Strength Index (RSI) hovers just below the overbought threshold, signaling that Bitcoin still has room to rally before momentum cools. Additionally, the 50-day exponential moving average (EMA) has turned upward again, confirming renewed buying interest and positive sentiment.
If Bitcoin successfully consolidates above $116,000, the next target range lies between $120,000 and $122,000—a historically significant area that has previously sparked sharp corrections.
Bitcoin's Path Remains Uncertain as Analyst Highlights Critical Charts to Monitor
Bitcoin's recovery from last week's sharp decline remains tentative, with the cryptocurrency hovering below key resistance levels. After plummeting from $122,000 to under $110,000, BTC showed modest rebound signs over the weekend—though market direction stays ambiguous.
CryptoQuant analyst Maartunn identifies troubling parallels between current price action and November 2021's bull market peak. The weekly chart reveals a nearly identical failed breakout pattern, where Bitcoin breached resistance only to collapse beneath it days later. Such formations often precede extended consolidation periods.
On-chain metrics compound concerns. UTXO Realized Price Distribution data confirms BTC faces stiff overhead resistance NEAR current trading ranges. The URPD indicator—which maps historic acquisition prices across the network—shows substantial supply concentrations that could cap upward momentum.
Bitcoin Faces Resistance Amid Recovery Attempt
Bitcoin's price action shows tentative recovery signs after climbing above $114,200, though the rally appears fragile. The cryptocurrency now confronts immediate resistance near $116,000 while trading below both this psychological level and the 100-hour moving average—a classic bearish configuration.
Technical charts reveal a concerning pattern: a descending trendline forming near $119,250 on BTC/USD hourly charts (Kraken data). This comes after Bitcoin retraced 50% of its recent drop from $123,750 to $100,000. Market participants are watching the $112,500 support level closely—a breach could accelerate downward momentum.
The recovery faces multiple overhead hurdles, with key resistance clustered between $115,000-$118,150. A decisive close above $118,150—the 76.4% Fibonacci retracement level—could invalidate the bearish thesis. Until then, the path of least resistance appears skewed downward.
$19B Crypto Liquidation Exposes CEX Transparency Gap
The cryptocurrency market witnessed its largest liquidation event in history, with $19 billion in leveraged positions wiped out within 24 hours. The sell-off, triggered by geopolitical tensions including new U.S. tariffs on Chinese goods, caused Bitcoin to swing $20,000 and erased $380 billion from the total market capitalization.
Jeff, Hyperliquid co-founder, highlighted the transparency gap between centralized and decentralized platforms. "Every Hyperliquid transaction occurs on-chain," he noted, contrasting this with alleged underreporting of liquidations by some CEXs. The debate comes as Hyperliquid prepares to launch its HIP-3 upgrade, enabling permissionless futures DEX creation.
UK Investment Giant Hargreaves Lansdown Warns Clients Against Bitcoin Investment
Hargreaves Lansdown, the UK's largest retail investment platform overseeing $225 billion in assets, has issued a stark warning to clients about Bitcoin. The firm categorically dismissed the cryptocurrency as lacking intrinsic value, urging investors to exclude it from long-term savings or retirement portfolios.
While acknowledging Bitcoin's historical returns, HL emphasized its extreme volatility and incompatibility with traditional asset classes. "Performance assumptions for cryptocurrency are challenging to analyze," the statement noted, aligning with recent skepticism from Deutsche Bank and Elliott Management.
The warning follows Bitcoin's recent plunge to $102,000, reigniting debates about crypto's role in institutional portfolios. HL maintains that digital assets fail to meet criteria for growth or income strategies, marking a significant institutional challenge to cryptocurrency legitimacy.
$19 Billion Crypto Liquidation Sparks Debate Over Exchange Transparency
The cryptocurrency market experienced its largest liquidation event on record last Friday, with over $19 billion in Leveraged positions wiped out and more than 1.6 million traders liquidated in a single day. The collapse was triggered by former President Trump's announcement of 100% tariffs on Chinese goods, leading to a rapid sell-off and a $20,000 swing in Bitcoin's price. The event erased approximately $380 billion in market capitalization.
The liquidation reignited the debate between centralized exchanges (CEXs) and decentralized finance (DeFi) platforms over transparency. Jeff, co-founder of on-chain exchange Hyperliquid, emphasized that every transaction on their platform is publicly verifiable on-chain, contrasting with CEXs which he accused of underreporting liquidations by up to 100 times. Hyperliquid's upcoming HIP-3 upgrade aims to enable fully decentralized futures trading.
Backpack Exchange founder Armani Ferrante pointed out the flaws in deep market liquidity, which vanished during the crash. He praised Hyperliquid's decentralized solvency mechanisms and suggested adding circuit breakers to mitigate volatility. Meanwhile, Ethena's USDe stablecoin faced scrutiny after a Binance glitch, though it was clarified that the issue stemmed from oracle and API failures rather than a depegging event.
