Bitcoin Hits $111K November Peak Despite Bear Market Fears

• On November 2, 2025, Bitcoin reached $111,129, its highest level for the month.
• Concerns about sustainability persist amid market conditions and selling pressure.

On November 2, 2025, Bitcoin surged to $111,129 during a weekend rally often referred to as a "Sunday pump," according to Cointelegraph. While this marked the cryptocurrency’s highest level for November, it failed to surpass significant resistance levels pivotal for sustained upward momentum.

Market analysts highlighted the 21-week exponential moving average (EMA) at $111,230 and the $112,000 threshold as key resistance areas. Despite the notable price jump, Bitcoin's inability to establish these levels as solid support prompted concerns of a potential correction without further upward movement. Analysts pointed out that a breakout above $114,000 would be essential to confirm a bullish reversal.

The weekend rally occurred during lower trading volumes, a common scenario that often invites doubt about the durability of price increases. Many traders anticipate that institutional buying activity will play a crucial role once traditional markets reopen, leaving the weekend’s gains vulnerable without substantial weekday support.

Adding to market instability, an unnamed Bitcoin whale reportedly sold over $650 million of BTC throughout October, Cointelegraph reported. The increased selling pressure adds another layer of uncertainty to Bitcoin's performance, which has already experienced considerable drops in recent months.

The broader cryptocurrency market displayed mixed trading dynamics during the same period. While overall market capitalization saw a slight uptick, several macroeconomic challenges continue to cast uncertainty over Bitcoin’s recovery prospects amid persistent bearish sentiment.

As of November 2, 2025, at 16:08 UTC, Bitcoin (BTC) was trading at $109,881.18, reflecting a 0.51% drop over the preceding 24 hours, per CoinMarketCap. The 24-hour trading volume also declined by 5.65%, with Bitcoin’s market cap dominance sitting at 59.393%.