Bitcoin Trades Near $109K as Analysts Warn of a “Head Fake” Before the Next Major Rally

Bitcoin consolidates between $109K–$112K, forming a triple-top pattern with higher lows signaling strength.

Futures open interest climbs to $73.39B, showing rising institutional activity and market engagement.

Analysts note renewed accumulation and inflows, hinting Bitcoin may stage another rally above $112K.

Bitcoin continues to show familiar trading behavior, with recent movements resembling earlier bullish continuation patterns. Prices may only be hitting the market with another “head fake” before another run much higher. Market data reveal renewed accumulation, growing open interest, and stable technical structures supporting the broader uptrend.

Bitcoin Price Structure and Technical Behavior

Bitcoin is currently trading near $109,731.16, reflecting a 1.22% increase in the past 24 hours. The market capitalization stands at $2.18 trillion, while trading volume has eased to $64.12 billion, indicating lighter but steady participation. The fully diluted valuation measures $2.3 trillion, and the circulating supply remains 19.94 million BTC.

The 24-hour chart records an early decline toward $108,400, followed by a rebound toward the current range of $109,000–$110,000. Consistent green candles in the latter half of the trading period indicate sustained buying pressure. According to analysis by Javon Marks, Bitcoin’s structure mirrors previous bullish setups, featuring head-and-shoulder-like consolidations above ascending trendlines

Each past occurrence has preceded a breakout toward new highs. The recent structure aligns with this pattern, showing a triple-top configuration supported by higher lows. Market rhythm data indicate recurring price compressions before strong directional moves. As the price consolidates within a narrowing range, a potential breakout above $112,500 may initiate the next upward cycle.

Rising Open Interest and Renewed Accumulation

According to data from Coinglass, Bitcoin futures open interest reached $73.39 billion by October 31, 2025, tripling since January. This expansion reflects growing institutional engagement and stronger derivatives activity even amid spot market corrections.

Source: TedPillows(X)

Exchange data also show $100.62 million in net inflows during October, marking renewed investor accumulation. Analysts view these inflows as positioning for a possible volatility expansion. Ted Pillows stated that Bitcoin recently fell below $107,000 but reclaimed the level, while the key zone remains at $112,000 for a bullish continuation.

Bitcoin’s consolidation between $109,000 and $112,000 indicates preparation for the next directional move. Historical behavior and sustained inflows suggest that prices may only be creating another “head fake” before advancing much higher.

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