Bitcoin Price Hits $111k November High But Bear Market Fears Persist

Bitcoin traders doubted the staying power of last-minute weekend BTC price upside as selling pressure from whales returned into the weekly close.

Bitcoin reaches $111,000 for the first time in November, but traders anticipate the weekend's upside unraveling.

Coinbase sell pressure comes as a Bitcoin whale resumes distributing BTC.

Bulls are still unable to reclaim lost support at $111,200 and above.

Bitcoin (BTC) saw a late bid into Sunday’s weekly close as key reclaim levels stayed out of reach.

Data from Cointelegraph Markets Pro and TradingView tracked the BTC price action as it reached local highs of $111,129 on Bitstamp.

While still rangebound, that level marked a new November high amid the sudden return of bidder interest on major exchanges.

“Binance and Coinbase are bidding on $BTC now,” crypto investor and entrepreneur Ted Pillows confirmed on X.

Pillows noted that the trend contrasted with that seen during the week. As Cointelegraph reported, US sessions in particular were characterized by sell-side pressure.

A weekend move to the upside, he implied, would not hold after the return of TradFi markets.

Source: CoinTelegraph