The economist pointed to the stabilization of the bitcoin exchange rate

The bitcoin exchange rate continues to show signs of stabilization after a weekly correction. Vasily Girya, the owner and CEO of GIS Mining, announced this on November 7 in an interview with Izvestia.

"By the beginning of the second decade of November, bitcoin is showing signs of stabilization after a weekly correction. On Thursday, November 6, it ended the day at around $101,300, down 2.44% per session. On Friday, the price briefly rose to $ 10.2527 dollars, but then returned to the narrow zone of $ 101,000–$ 101,500," said Girya.

According to him, the shutdown of the federal government in the United States continues to be a tense background actor for the digital currency market. In addition, the lack of official economic statistics (including employment and inflation data) creates high uncertainty. Investors are forced to rely on alternative indicators such as the ADP report (+42,000 jobs in October), but its correlation with official NFP data is historically unreliable. At the same time, the level of layoffs according to the Challenger report reached a maximum in 22 years — 153 thousand ads, which increases concerns about a slowdown in the economy.

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Meanwhile, Girya noted that there is also a positive sentiment in the crypto market: on-chain data indicates a redistribution of coins, rather than a mass exodus (large long-term holders withdraw significant amounts, but these BTC are actively absorbed by new participants and institutional investors — a sign of a "generational shift" in the ownership structure), macroeconomic policy is gradually shifting towards easing (the completion of the quantitative tightening program (QT) is expected on December 1, and the December meeting of the US Federal Reserve is likely to bring a rate cut). Trade agreements between the United States and China have already been signed, which additionally supports global risk appetite.

"From the point of view of technical analysis, bitcoin remains in a narrow range of $99,000–$105,000. Holding above $100,000 until November 10 will be seen as a signal of strength and may become the basis for recovery in the first half of the new week," the expert emphasized.

GIS Mining estimates that a break above $106,000 will pave the way to $10,8500, but requires support from stock indexes, especially the Nasdaq, which has recently remained a leading indicator of sentiment. At the same time, the risk of increased sales remains: in the event of a breakdown of $ 100,000, a deeper correction is possible, although the scenario of a decline to $75,000 still looks extremely unlikely.

It is clarified that at the end of the first decade of November, market participants are in a state of expectation — against the background of macro certainty, bitcoin is showing stability, but is not ready for decisive movements. The return of volatility and clarity is likely to come only after the shutdown is completed or the first signs of a change in the monetary policy of the US Federal Reserve appear.

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"At the same time, the Russian segment of the international industrial mining industry remains stable and highly competitive. With bitcoin prices above $100,000, Russian industrial mining customers are paying special attention to diversifying their investment strategies," Giria added.

He also clarified that the extraction of digital resources continues to grow in the United States and many other countries around the world, and the number of new institutional customers in the industry has been increasing markedly since the second half of summer.

On October 27, Girya reported that bitcoin's recovery at the end of October was primarily due to the easing of inflationary pressures in the United States in September and expectations of a softer Fed policy at the October 29 meeting. Against this background, institutional capital continues to flow into bitcoin.: Spot ETFs record net inflows, and open interest in futures is growing. Giria noted a particularly increased investor interest in the second cryptocurrency, ethereum.

Prior to that, 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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