Bitcoin Tops $106K, But CME Gap Signals Potential Near-Term Pullback

November 10, 2025 — Bitcoin (BTC) led crypto markets higher on Monday, climbing past $106,000 and reclaiming its 365-day moving average — a key long-term technical level currently near $102,444. The move comes despite data from Velo showing that Mondays have delivered negative average returns over the past month.

Still, the rally may face near-term resistance. A small Chicago Mercantile Exchange (CME) gap has emerged around $104,170 following the weekend’s price action. CME gaps occur when bitcoin futures reopen higher or lower than their previous closing level, typically after weekend trading pauses. Historically, such gaps tend to “fill,” meaning price often retraces to close them, signaling potential short-term volatility.

While technical traders eye that downside level, sentiment has improved as optimism grows that the U.S. government shutdown could be resolved this week — a development seen as broadly supportive for risk assets.

Crypto-linked equities reflected that momentum in pre-market trading, with AI-related names leading gains. Galaxy Digital (GLXY) rose 5% to $33, IREN (IREN) gained 7% to $66, and Cipher Mining (CIFR) advanced 5% to $21.

Bitcoin treasury stocks also strengthened. MicroStrategy (MSTR) climbed 3% pre-market to $248, while Metaplanet (3350) ended Monday’s session 3% higher at ¥427.

Beyond crypto, gold rallied 2% to $4,079, silver approached the $50 mark with a 3.3% gain, and the U.S. dollar index (DXY) hovered near the 100 benchmark. Ten-year Treasury yields ticked higher, back above 4.1%.