Bitcoin is trading near $111,000 ahead of the weekend, when liquidity typically thins and volatility may increase. Data show five critical price levels that could trigger significant moves during low-volume sessions, with the largest long liquidation cluster sitting between $108,000 and $108,500.

Bitcoin remains vulnerable to drawdowns of up to 50% even as institutional adoption rises, according to Tom Lee, chairman of BitMine. Lee noted that Bitcoin continues to track equity markets with amplified movements, meaning a 20% decline in the S&P 500 could result in a 40% drop for Bitcoin. Despite volatility concerns, Lee maintains his forecast that Bitcoin could reach $200,000–$250,000 by year-end.

Bitcoin's Short-Term Holder Net Unrealized Profit/Loss has moved into negative territory, signaling pressure on recent buyers. The metric last reached similar levels in April of the previous year, ahead of a sustained price rally. Long-term holders continue selling at profit with SOPR at 2.3, while Bitcoin consolidates above the $108,000 demand zone.

Decentralized perpetual futures platforms recorded over $1 trillion in trading volume during October, marking a new monthly record. Hyperliquid led all decentralized exchanges with $317.6 billion in trades, while collective DEX activity peaked at $78 billion on October 10. The milestone represents approximately 30% growth over August's previous record of $762 billion.

Bitcoin recovered to $110,000 this week after opening at $107,000, yet faces challenges maintaining momentum near all-time highs. Analysts at The Bull Theory suggest the traditional four-year cycle is transitioning to a five-year pattern. The next peak may occur around Q2 2026, driven by global liquidity dynamics and institutional accumulation.

Gold declined 6% this week following a 30% rally since August, lifting the BTC/gold ratio by 8%. Bitwise Chief Investment Officer Matt Hougan suggests Bitcoin could replicate gold's 2025 price pattern once long-term holder selling exhausts. The analysis points to potential ETF inflow shifts favoring BTC if gold's pullback continues.

An independent Bitcoin miner validated block 920,440 on Thursday and earned $347,455 in total rewards. The miner operated solo mining infrastructure on an Umbrel server through Public Pool, receiving 3.125 BTC as the block subsidy plus 0.016 BTC in transaction fees. The achievement demonstrates that independent miners can still successfully validate blocks despite Bitcoin's rising global hash rate.

Galaxy Digital CEO Mike Novogratz said Bitcoin reaching $250,000 by year-end would require "a heck of a lot of crazy stuff." He projected a more realistic range of $100,000 to $125,000 under normal market conditions. Bitcoin was trading around $107,000 at the time, meaning a move to $250,000 would require approximately a 130% surge within weeks.

Bitcoin rose 2.7% to $110,700 on Thursday following a presidential pardon for Binance founder Changpeng Zhao. BNB surged over 5% on the news. The rally extended to major cryptocurrencies including Ether, DOGE, and ADA, which gained 2-3%.

Standard Chartered's head of digital asset research Geoff Kendrick said Bitcoin could temporarily fall below $100,000 due to escalating U.S.–China trade risks. Despite the near-term correction forecast, Kendrick characterized the potential drop as a buying opportunity. The bank maintains long-term targets of $200,000 by year-end and $500,000 by 2028, citing expanding global M2 money supply.