Bitcoin Price Eyes $112K-$117K Rally on Shutdown End
Bitcoin price rebounded over 5% to trade above $106,400 on Bitstamp amid rising optimism that the US government shutdown will end by mid-November. Prediction markets like Polymarket and Kalshi place the odds of a reopening between Nov. 12 and Nov. 15 at around 85%. On-chain data from CoinGlass, alongside Bitstamp order-book analytics on Cointelegraph Markets Pro and TradingView, indicate Bitcoin price targeting liquidity clusters at $112,000–$115,000. A clear break above $115,000 could trigger a short squeeze toward $117,000.
Technically, BTC has closed above the 50-week simple moving average and is testing year-long trendlines. Historical precedent from the 2018 shutdown saw a 265% rally over five months. Traders should also monitor upcoming economic releases, including US CPI, for further catalysts. Renewed fiscal liquidity, strong order-book signals and clear technical targets point to a bullish outlook for Bitcoin price in both the short and medium term.
Bullish
The anticipated resolution of the US government shutdown is poised to inject fresh fiscal liquidity, boosting capital flows into risk assets such as Bitcoin. This fundamental catalyst, combined with on-chain insights from CoinGlass and order-book data identifying key liquidity bands between $112K and $115K, suggests strong short-term bullish momentum. A decisive move above $115K is likely to trigger a short squeeze toward $117K.
From a technical perspective, Bitcoin’s weekly close above the 50-week SMA and its test of long-term trendlines reinforce the uptrend. Historically, the 2018 shutdown resolution preceded a 265% rally over five months, offering a precedent for sustained gains. Additionally, traders monitoring upcoming US CPI data may find further triggers to support the bullish case. Collectively, these factors indicate a positive impact on Bitcoin price in both the near and medium term.