Bitcoin has rebounded to $106,000 following the U.S. Senate's move to end a 40-day government shutdown, boosting risk sentiment and sparking a rally in both stock and crypto markets. Despite pressure from early holders selling and ETF outflows, liquidity remains robust. The options market indicates a softening of bearish sentiment and reduced liquidation concerns. Traders are divided, with some purchasing call butterfly options expiring on December 26 at strike prices of $112,000, $120,000, and $150,000, while others are selling call spreads at $135,000 and $140,000, reflecting mixed expectations about retesting historical highs. QCP notes that despite ongoing selling pressure from OG wallets, the market's absorption capacity has improved, suggesting Bitcoin may continue to trade within a range, facing resistance around $118,000.
Bitcoin Rebounds to $106,000 Amid U.S. Government Shutdown Resolution
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