Can Bitcoin Hit $1M as Cathie Wood Renews Bold Call – And Will Ethereum Hold Its 0.0345 BTC Level?

Bitcoin and Ethereum moved higher over the past day. Spot trading picked up, while derivatives activity eased after a round of weekend liquidations.

Cathie Wood, CEO of ARK Invest, stood by her long-term view on Bitcoin despite recent price swings.

In a recent podcast, she repeated her $1M price target for BTC. She tied that outlook to the steady growth of stablecoins, which now hold more than $300Bn in value.

Are the factors behind the market’s recent pullback short-term? Hear why @CathieDWood thinks so, and why December could be a turning point, on this month’s “In The Know.” https://t.co/9QOlJvfbWG

— ARK Invest (@ARKInvest) November 8, 2025

Wood said the growth in stablecoins marks a significant milestone for digital assets, even as Bitcoin faces short-term pressure.

She noted that their expanding role may soften Bitcoin’s near-term momentum, but it also points to a more credible and mature crypto market overall.

Bitcoin Price Prediction: Could Bitcoin Revisit the $103.8K–$104.6K Gap Zone?

Bitcoin futures on CME began the week with a noticeable price gap of around $104,000, based on a chart shared by analyst Daan Crypto.

The one-hour view shows a strong bounce late Sunday that pushed BTC above $106,000 after a short weekend pullback.

The move came with firm momentum. A run of green candles lifted the price from nearly $103,000 before it settled into a narrow band near $106,200.

(Source: X)

The gap between approximately $103,800 and $104,600 remains open. Traders often point out that CME gaps tend to be revisited, but there’s no guarantee that the price will return to that zone.

The current candles are sideways, indicating that the recent candles took a break after the steep climb.

This is an indicator of hesitation, as traders await guidance. The breakout gained volume, but the activity paused when the price stabilised.

So far no apparent turnaround strategy. Nevertheless, the slower movement may be an indicator of a drawback pull to the gap.

At least, the overall uptrend can be extended if the price does not revisit the same region.

Generally, the structure is more tilted toward the higher side, and one of the main markers is the CME gap.

The general interest in Bitcoin futures has also increased significantly, indicating an increase in the intensity of derivatives trading on major platforms.

(Source: Coinglass)

The interest has been growing since the end of 2023 and has gained momentum in mid-2024, surpassing $100Bn in recent readings.

The move has largely followed Bitcoin’s rise toward the $110,000–$120,000 area, showing heavier positioning across futures markets.

Small pullbacks in BTC were matched by similar dips in open interest, but both have stayed on an upward path.

EXPLORE: Top 20 Crypto to Buy in 2025

Ethereum Price Prediction: Why Is Ethereum Rising Amid US Government Shutdown Talks?

Ethereum climbed on Monday as broader market sentiment turned calmer. The move came after signs that the US government shutdown could soon end.

The shift followed reports that senators reached a bipartisan funding deal, seen as the first real step toward resolving the 40-day standoff.

The Senate passed the bill late Sunday in a 60–40 vote. It now heads to the House, and if approved, will move to President Donald Trump for final sign-off.

According to CoinGecko, Ether traded near $3,595 after a volatile day. Prices moved between about $3,503 and $3,648, ending the session roughly +4% higher.

DeFiLlama data shows Ethereum stablecoins at about $167.2Bn. DEX volume over the past day came in near $1.848Bn, with roughly 464,000 active addresses.

(Source: DefiLlama)

Spot trading volume was close to $33Bn during the same period.

On the charts, Ethereum is sitting near a key weekly support level against Bitcoin, according to analyst Michaël van de Poppe.

The ETH/BTC pair has eased from its recent high around 0.045 BTC. That move followed a sharp rebound earlier this year, when the pair climbed more than 140%.

Ethereum’s price against Bitcoin is holding in a key demand zone near 0.032–0.035 BTC, an area where buyers previously stepped in.

(Source: X)

The weekly chart shows the decline slowing as the pair approaches the 20-week moving average, suggesting the market may be finding its footing.

Trading volume has pulled back since the summer surge, indicating lighter selling. The RSI is neutral, so there is still room for the price to move higher if momentum returns.

Analyst Michaël van de Poppe believes ETH/BTC could challenge short-term resistance at 0.03450 BTC.

A clear push above that line may set the pair on track toward 0.045 BTC, a level reached during an earlier swing. If the current support fails, the next visible downside areas sit near 0.026 BTC and 0.019 BTC.