The analyst revealed the factors influencing the bitcoin price in November

In the period from October 31 to November 9, bitcoin is likely to continue trading in a wide range of $102,000–$122,550, remaining in a sideways trend that has been forming since July. Vasily Girya, the owner and CEO of GIS Mining, told Izvestia about this on October 31.

"The current price of around $110,000 reflects a balance between cautious investor optimism and ongoing macroeconomic uncertainty," he said.

Despite the completion of quantitative tightening (QT) and the Fed rate cut by 25 bps, the market reaction turned out to be restrained due to Jerome Powell's harsh rhetoric and the lack of clear signals for further policy easing. This, along with the delay in the publication of key macroeconomic data due to the partial shutdown, supports the waiting mode among major market participants.

Short–term risks remain in the digital currency market: a breakdown of the $106,000 level may trigger a new wave of liquidations of margin positions and accelerate the correction to the psychologically important zone of $100,000-$102,000.

"However, buyers remain interested, especially as institutional demand remains high.: Spot Bitcoin ETFs already control about 6.5% of the total bitcoin supply, and the completion of the balance reduction program (QT) will gradually return liquidity to the markets," Giria added.

Active growth: bitcoin is predicted to reach $150,000 by the end of the year

At the end of May, he updated the historical record — why did this happen and how long will this trend last?

In addition, according to him, a positive dialogue between the United States and China reduces geopolitical tension, which creates a favorable background for risky assets in the medium term.

The key trigger for breaking out of the range will be clarity on the Fed's position in December, as well as the publication of fresh US data on inflation, employment and GDP after the end of the shutdown. According to the expert, if bitcoin manages to gain a firm foothold above $111,700, this will pave the way for a retest of the local maximum of $115,900, and then to the historical peak of $126,199.

"However, before that, the market is likely to need time to recover from the large-scale liquidation on October 10 and reassess macroeconomic factors. Under current conditions, the most likely scenario for early November is a sideways movement with volatility in the range of $106,000—$116,400, especially ahead of the weekend and the start of a new trading week," the expert shared.

It is important to note that since the beginning of this year, bitcoin has been steadily trading at levels above $100,000. The Russian industrial mining industry, against the background of balanced regulation, is becoming a kind of investment asset and a source of profitability for the financial market of the Russian Federation. In the first 10 months of this year, according to expert estimates, the volume of orders for bitcoin mining in the Russian jurisdiction from institutional clients increased by almost 30% compared to the same period last year.

On October 11, it was reported that the cost of bitcoin dropped below $105 thousand for the first time since June 2025. At 00:19 Moscow time, bitcoin fell by 13.68%, reaching the level of $ 104.764 thousand. By 00:34 Moscow time, the cryptocurrency exchange rate recovered slightly to $111.338 thousand, which remained 8.25% lower than the previous level.

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