Is Bitcoin (BTC) About to Surge? Michael Saylor Urges Investors to “Buy Now”

Jakarta, Pintu News – Bitcoin (BTC) could potentially test an important resistance level around $111,000. Michael Saylor’s “Buy Now” call and James Chanos’ decision to stop his short positions reflect a significant change in market sentiment.

Saylor calls for aggressive buying of Bitcoin

Michael Saylor’s emphatic “Buy Now” message revived hopes for a Bitcoin uptrend. His statement quickly became widespread among the crypto community and was considered one of the first indications that the next major uptrend could happen in the near future.

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The timing is quite strategic. The firm Strategy Inc. continues to add to its BTC holdings despite price volatility. Having raised more than $700 million through the issuance of preferred shares, Strategy is in a position to buy Bitcoin again.

Saylor’s statement confirms his belief that BTC’s long-term direction remains positive, despite the price approaching resistance levels. Based on the latest data from Glassnode, BTC is facing price pressure in the range between $111,342 to $111,626.

Analyst Ali noted that approximately 140,488 BTC last changed hands within that range, which could potentially be an obstacle to a bullish move. On-chain data suggests that many holders will probably choose to sell when the price hits that zone again.

Institutional Interest Strengthens as Chanos Closes Short Positions

Ali advised market participants to keep an eye on the $111,600 level, which he called a point with significant profit-taking pressure. He added that if Bitcoin manages to break this zone convincingly, it could signal the start of a new rally. A clear rise above this level is also expected to accelerate the inflow of institutional funds.

Saylor’s remarks come as the BTC treasury market shows early signs of recovery, with a number of large institutions starting to increase their exposure. One example is JPMorgan’s investment in BlackRock’s Bitcoin ETF.

Meanwhile, veteran investor and short seller James Chanos revealed that his firm has officially closed long-term short positions against BTC hedging strategies.

Read also: Bitcoin Price Rises to $105,000 Today: Can BTC Reach $107,000?

“We have stopped trading the $MSTR/Bitcoin hedge since the opening of trading yesterday,” Chanos said.

This move was immediately responded to by Bitcoin advocate Pierre Rochard, who stated that the bear market against Bitcoin treasury companies is “gradually coming to an end.”

Exit from Short Positions by Chanos Hints at Potential Bitcoin Trend Reversal

Pierre Rochard, CEO of The Bitcoin Bond Company, sees James Chanos’ exit as a signal that often precedes changes in market sentiment. While he warns that volatility will continue, the move is seen as a significant psychological turning point in corporate adoption of Bitcoin.

Currently, the price of BTC is hovering around $101,650, down 1.57% in the last 24 hours according to TradingView data.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Michael Saylor Says Buy Now as Bitcoin Faces $111k Resistance. Accessed on November 10, 2025