Bitcoin price is consolidating near $105,000 amid growing stablecoin liquidity, hinting at a quiet accumulation phase that could spark the next major move.
Summary
- Bitcoin hovers around $105,000 as market liquidity keeps growing.
- Stablecoin reserves climb, hinting at fresh buying power.
- Technicals are neutral but momentum favors accumulation.
Bitcoin is holding steady around $104,978 after slipping 1.3% in the past 24 hours. The top cryptocurrency has traded between $99,376 and $106,562 over the past week, down just 0.4% in seven days and roughly 6% over the past month. It now sits 16% below its record high of $126,080 reached on Oct. 6.
Even with the mild pullback, trading activity remains solid. Daily trading volume has climbed 12% to $70.68 billion, showing that participation in the market is far from cooling off.
Data from CoinGlass shows derivatives volume also climbed 14.44% to $105.83 billion, while open interest dropped 3.34% to $67.58 billion, suggesting traders are rotating positions rather than increasing risk exposure. This may be a sign of caution ahead of potential volatility.
Stablecoin buildup signals latent buying power
According to a Nov. 10 analysis by CryptoQuant analyst KriptoCenneti, Bitcoin’s (BTC) next big move may be quietly building in the background. The Bitcoin Stablecoin Supply Ratio, a measure comparing Bitcoin’s market value to the size of the stablecoin market, has fallen from above 18 earlier this year to just 13.1, one of the lowest levels seen in 2025.
A falling SSR means stablecoin reserves are growing faster than Bitcoin’s valuation. In simple terms, there’s more “dry powder” sitting on the sidelines, ready to move into Bitcoin when confidence returns.
SSR fell from 15 to 13 in the last month, despite Bitcoin’s price remaining near $105,000. This pattern implies that rather than leaving the market, investors are getting ready to buy.
Additionally, another CryptoQuant analysis showed that Bitcoin reserves are still declining while Binance stablecoin reserves are increasing. This liquidity structure frequently appears close to market turning points, when long-term holders start to build positions and selling pressure lessens.
Bitcoin price technical analysis
On the technical side, Bitcoin’s momentum appears neutral. The market isn’t stretched either way, as indicated by the relative strength index, which is at about 44. Although there are no obvious signs of a breakdown, the MACD indicator remains slightly negative, indicating a slight short-term weakness.
Bitcoin continues to find strong support near $99,000, a level where buyers have consistently stepped in. The price is also consolidating between the short-term moving averages and the middle of its Bollinger Bands, suggesting a cooling-off period after the volatility of October.
If the price breaks clearly above $107,800, it might move towards the $112,000–$116,000 range. On the other hand, a drop below $99,000 can result in a retest of support near $97,000.
