Bitcoin is showing early signs of recovery after a volatile month, with data from Binance hinting that market sentiment may be turning in favor of buyers.
Summary
- Bitcoin price is consolidating near $113K after a volatile month, showing signs of renewed buyer activity.
- Binance stablecoin ratio flashes a buy signal, suggesting rising liquidity ready to enter the market.
- Technical indicators point to an early bullish reversal if BTC holds above key support around $111K.
Bitcoin traded near $113,060 at press time, down 0.7% in the past 24 hours, but still up 4.5% in the past week and 1.2% over the past month. The price has moved between $107,088 and $115,957 in the last seven days, showing stability after the sharp Oct. 10–11 crash that wiped more than $19 billion from the market.
Despite that drop, Bitcoin (BTC) remains in recovery after reaching an all-time high above $126,000 earlier this month. Trading activity appears to be rising.
Daily volume reached $67.4 billion, about 14% higher than the previous day. Derivatives volume rose to $112.3 billion, according to CoinGlass data, while open interest fell to $73.6 billion. The slight decline in open interest suggests that traders are closing some leveraged positions, which can create a cleaner base for the next trend.
Binance data shows renewed BTC accumulation
According to an Oct. 29 analysis by CryptoQuant analyst Darkfost, the BTC-to-stablecoin reserve ratio on Binance has turned bullish for the third time in this cycle. The ratio compares how much stablecoin liquidity is held on Binance versus Bitcoin reserves. Rising stablecoin holdings and declining BTC reserves indicate that fresh buying power is building on the sidelines.
This same pattern preceded strong rallies in the past. It appeared when Bitcoin traded near $16,600 in January 2023 before moving to $24,800, then again in March 2023 from $20,300 to $73,000, and in March 2025 when BTC advanced from $78,600 to $123,500. The current setup shows similar accumulation behavior.
Another CryptoQuant analyst, burakkesmeci, noted that Binance funding rates have stayed positive since Oct. 22. Negative rates usually mark market bottoms, while a shift to positive territory often signals a return of short-term bullish momentum.
Bitcoin price technical analysis
Bitcoin is trading near the mid-band at $111,200 on the daily chart after rising from the lower Bollinger Band around $105,800. The next resistance is still the upper band around $116,400. At 50.6, the relative strength index indicates neutral momentum and room for growth.
Short-term moving averages between 10 and 20 days show a buy trend and define a support zone around $111,000 to $112,500. Longer averages near $114,500 still act as a barrier. Momentum readings remain somewhat weak, but the MACD indicator has turned positive.
Bitcoin may gain momentum towards $118,000 to $120,000 if it closes above $114,000. A stronger reversal could be confirmed by a breakout above the upper Bollinger Band. On the downside, it might return to $107,000 or even the lower band around $105,800 if support near $111,000 fails.
