Bitcoin’s market structure is showing signs of a potential rebound as the cryptocurrency continues to defend the $100,000 support level for a sixth consecutive month.
Key Takeaways
- Bitcoin is forming a double-bottom near $100,000, with confirmation above $104,000, according to Bitcoin Archive.
- $111,600 acts as a key resistance, with 140,000 BTC accumulated there, per Glassnode data.
- Analyst notes Bitcoin dominance has been rejected from trendline resistance, hinting at the start of an “Altseason.”
Analysts highlight a double-bottom pattern, strong on-chain resistance at $111,600, and a rejection in Bitcoin dominance, all pointing to the next decisive move for both Bitcoin and altcoins.
Ali Charts: $111,600 Resistance Forms a Major Barrier
On-chain analyst Ali Martinez identified a dense cost-basis cluster between $111,342 and $111,626, where roughly 140,488 BTC were acquired.
Watch the $111,600 zone on Bitcoin $BTC closely! About 140,488 tokens were piled up there, making it a strong resistance barrier. pic.twitter.com/SRdnN2JL0i
— Ali (@ali_charts) November 8, 2025
According to Glassnode’s cost-basis distribution heatmap, this zone represents one of the heaviest resistance bands in recent months.
The heatmap shows a thick orange layer around the $111K range, signaling that many holders may look to exit or reduce exposure if price revisits that level. Such high concentration often acts as a profit-taking barrier before new highs can form.
A breakout through this resistance would open the door toward the $120K region, while a failure could reinforce the current consolidation channel.
Bitcoin Archive: Double-Bottom at $100K Signals Possible Reversal
Bitcoin Archive noted that Bitcoin’s daily chart has been carving out a potential double-bottom formation at the $100K level.
This pattern, highlighted by two consecutive retests of the same support area, suggests market exhaustion among sellers.
The accompanying chart shows a horizontal base between $98K and $100K acting as support, with a neckline near $104K. A confirmed breakout above that neckline would validate the reversal setup, potentially triggering a move back toward $111K–$112K resistance in line with Ali’s on-chain data.
The pattern mirrors previous mid-cycle recoveries observed during Bitcoin’s 2021 and 2024 consolidations.
Altcoin Gordon: Bitcoin Dominance Rejected Altseason Incoming
Meanwhile, another market strategist observed that Bitcoin dominance has been rejected from a multi-year trendline resistance on the weekly timeframe.
His chart shows BTC.D turning lower from the 60% zone, a level that historically marks the start of altcoin outperformance phases.
Bitcoin dominance got rejected from weekly trendline resistance.
We all know what that means.
"AltSeason". pic.twitter.com/4iCuy75Y4D
— Gordon (@AltcoinGordon) November 8, 2025
A sustained decline in dominance toward 55% or below could signal that liquidity is rotating into Ethereum, Solana, and mid-cap AI or DeFi tokens, a pattern seen at the start of prior altseasons in 2021 and 2023.
If confirmed, this shift could coincide with Bitcoin’s consolidation between $100K–$111K while capital flows to higher-beta assets.
Outlook: Key Levels to Watch
Bitcoin remains in a critical equilibrium zone.
- Immediate support: $98K–$100K (double-bottom region)
- First resistance: $104K (confirmation trigger)
- Major resistance: $111.6K (on-chain barrier)
A decisive move above $104K could activate bullish continuation toward $111K, while rejection below $98K would invalidate the structure and expose deeper downside.
At the same time, falling Bitcoin dominance hints that altcoins could outperform in the near term, especially those tied to AI, DePIN, and Layer-1 narratives already gaining momentum.
Final Takeaway
With Bitcoin defending six straight months above the $100K threshold and technical indicators aligning, the market stands at a turning point.
A confirmed breakout could reignite the next leg of the bull cycle, but if dominance continues to drop, the spotlight may shift to altcoins first.
