- Around 140,488 BTC clustered near $111,600, creating a strong resistance barrier.
- Breakout above this level with volume could fuel a rise to $120,000; failure may drop price to $99,000-$101,000.
- Mixed sentiment and wavering whale activity make volume and ETF inflows crucial for next market move.
Bitcoin ($BTC) continues its volatile journey, a recent analysis by crypto analyst Ali (@ali_charts) has spotlighted a pivotal price level: $111,600. Shared on November 8, 2025, via a Glassnode Cost Basis Distribution Heatmap, the chart reveals approximately 140,488 BTC accumulated at this range, marking it as a formidable resistance barrier. This concentration of tokens, where holders likely purchased, suggests a psychological and technical threshold that could dictate Bitcoin’s next move.
Implications of Breaking or Failing at this Key Level
The heatmap, spanning October to early November, illustrates Bitcoin’s price action against the cost basis of its supply. The $111,600 zone stands out with intense color gradients, indicating significant supply pressure. If Bitcoin breaks above this level with strong volume, it could trigger a cascade of buying, potentially pushing prices toward $120,000 as profit-taking turns into renewed demand. However, a failure to breach this resistance might see the price drop to the $99,000-$101,000 support zone, where holders may reload their positions.
Monitoring Volume and ETF Flows for Confirmations
Market sentiment is mixed. Some analysts view this as a “memory wall,” where past cost bases influence future trends, while others caution that thin liquidity and fading whale activity could render the barrier less formidable unless buyers step up. The upcoming days will be crucial, with the daily close above $111,600 serving as a key indicator. Traders are advised to watch for volume spikes and ETF inflows, which could fuel a breakout, or a rejection that reignites bearish momentum.
The crypto community debates, this resistance zone underscores Bitcoin’s ongoing tug-of-war between bulls and bears. Whether it becomes a launchpad or a stumbling block, the $111,600 level is one to watch closely in the coming sessions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
