According to @CryptoMichNL, Bitcoin (BTC) reclaiming the liquidity from the October 10 crash is a critical level to monitor for potential bounces and bottom formations (source: @CryptoMichNL, X post, Nov 4, 2025). The author describes the start of the month as disastrous, signaling elevated near-term downside pressure for BTC price action (source: @CryptoMichNL, X post, Nov 4, 2025). For upside continuation, $112K is identified as the crucial threshold required for any new BTC all-time high attempt (source: @CryptoMichNL, X post, Nov 4, 2025).