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Bulls Eye Channel Floor for Resumption of Upside Momentum
Cryptocurrency
Summary:
This reading provides a technical signal that the recent selling pressure may be dissipating, allowing buyers to take control.
Buy
TradingBTC-USDT
EXP
104466.0
Entry Price
115500.0
TP
96500.0
SL
105430.0 +351.2 +0.33%
0
Point
Flat
96500.0
SL
CLOSING
104466.0
Entry Price
115500.0
TP
The banking behemoth JPMorgan Chase has significantly escalated its commitment to the cryptocurrency space, reporting holdings of 5,284,190 shares in the BlackRock IBIT spot Bitcoin ETF, valued at approximately $343 million, according to information released by Bitcoin Magazine this Friday.
This figure marks a remarkable 64% increase in JPMorgan's Bitcoin ETF stake compared to its previous disclosure. The jump underscores the accelerating institutional adoption and rising interest from traditional finance heavyweights in the digital asset ecosystem. BlackRock's IBIT, which offers investors regulated and direct exposure to Bitcoin, continues to dominate the crypto ETF market. Since its launch in January 2024, the fund has accumulated $64.4 billion in net inflows, based on data from SoSoValue, and its Assets Under Management (AUM) reached $80.5 billion as of November 6th, cementing its status as one of the fastest-growing ETFs in financial history.
JPMorgan has been proactive in integrating crypto services to meet surging institutional demand. The bank already accepts spot Bitcoin and Ethereum ETFs as collateral for loans and has reported plans to extend this facility to include physical cryptocurrencies, allowing institutional clients to use their direct holdings as collateral without forced liquidation.
In corporate news, Strategy Inc announced the pricing of its Initial Public Offering (IPO) on November 6, 2025, for 7,750,000 shares of Series A Perpetual Preferred Stock (ticker STRE) at a public price of €80.00 per share. Settlement is scheduled for November 13, 2025, subject to customary closing conditions.
Meanwhile, U.S. Federal Reserve Governor Stephen Miran provided a key regulatory perspective, calling stablecoins an "area of enormous growth" and warning that their expansion could have significant effects on U.S. monetary policy. Miran's remarks, delivered during the BCVC Summit in New York City, were his first public comments on cryptocurrencies since he was confirmed by the Senate. He stressed that stablecoins represent "a force to be reckoned with," with recent projections confirming the sector's continued relevance in the crypto ecosystem.
Technical Analysis
BTC/USD has exhibited renewed bullish interest after dipping to the 99,220 level, a price point not seen since June 23rd. The strong upward reaction observed on that prior occasion sets a precedent, suggesting that a repeat of that price action could lead to a continuation of the uptrend. The initial objective for this bullish impulse would be 115,500. This path would involve recapturing resistance marked by the 100- and 200-period Moving Averages (MAs), currently at 114,460 and 109,257, respectively. A decisive break and close above these key MAs would signal a significant bullish acceleration.
The price action suggests that BTC/USD is moving within an Ascending Channel . If the recent low holds as the channel's lower boundary, the price structure—marked by higher highs and a failure to set new local lows—confirms that the bullish impulse remains active. This scenario strongly opens the door for renewed buying interest.
Furthermore, the Relative Strength Index (RSI) reached 31.43, positioning the pair very near oversold levels. This reading provides a technical signal that the recent selling pressure may be dissipating, allowing buyers to take control. Conversely, a definitive close below the last local low, creating a new swing low, would invalidate the current channel structure and expose the market to a deeper correction.
Trading Recommendations
Trading direction: Buy
Entry price: 104550
Target price: 96500
Stop loss: 115500
Validity: Nov 18, 2025 15:00:00
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